Richemont: completes acquisition of 100% of Vhernier
May 07, 2024 at 03:57 am EDT
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Richemont has signed an agreement to acquire 100% of Vhernier, the Italian jewelry house, in a private transaction.
Founded in Valenza, Italy, in 1984 and based in Milan, Vhernier was acquired by the Traglio family in 2001.
' All jewelry is handcrafted in Valenza, renowned for its excellence in jewelry-making, guaranteeing the highest level of craftsmanship and quality ' says the group.
They are sold through a highly selective network of monobrand boutiques and prestigious multi-brand stores, mainly in Europe and the United States.
Vhernier also operates De Vecchi Milano 1935, an Italian silver decoration brand.
Johann Rupert, President of Richemont, said: 'The Maison Vhernier brings a distinguished and distinctive design that beautifully combines modern, sleek and elegant shapes with unconventional materials, magnified by exceptional craftsmanship. This unique aesthetic perfectly complements our existing collection of renowned jewelry houses'.
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Compagnie Financière Richemont SA is a world leader in luxury products. Net sales break down by family of products as follows:
- jewelry items (42.2%): the brands Cartier (world No. 1 in jewelry), Van Cleef & Arpels, and Giampiero Bodino;
- luxury watches (31.1%): Piaget, A. Lange & Söhne, Jaeger-LeCoultre, Vacheron Constantin, Officine Panerai, IWC Schaffhausen, Baume & Mercier and Roger Dubuis brands;
- other (26.7%): primarily pens, fine leather goods articles and clothing under the following brands: Montblanc, Chloé, Old England, Purdey, and Alfred Dunhill.
Net sales break down by activity between retail distribution (57.6%), wholesale distribution (23.7%) and online distribution (18.7%).
Net sales are distributed geographically as follows: Switzerland (2.4%), the United Kingdom (5.3%), Europe (15.6%), China (28.9%), Japan (6.3%), Asia (11.9%), the States United (19.9%), Americas (2.3%), Middle East and Africa (7.4%).
COMPAGNIE FINANCIERE RICHEMONT 
