Richemont Buys Another Milan-Based Jeweler
May 07, 24
(IDEX Online) - Richemont, the Swiss luxury conglomerate, today (7 May) said it has acquired the Milan-based jeweler Vhernier for an undisclosed sum.
Vhernier, founded in 1984, is known for its distinctive modern jewelry, inspired by the curves of the human body and the essential forms of modern sculpture.
It will become Richemont's 29th luxury brand, and follows its 2019 acquisition of Buccellati, also based in Milan.
Richemont also owns Cartier and Van Cleef & Arpels, as well as IWC Schaffhausen, Jaeger-LeCoultre, Piaget and other specialist watchmakers.
It said it had reached an agreement to buy 100 per cent of Vhernier in a private transaction. Vhernier, acquired by the Traglio family in 2001, also operates De Vecchi Milano 1935, an Italian heritage silverware home decor brand.
Johann Rupert, Richemont chairman, said: "Maison Vhernier brings a distinguished and distinctive design that beautifully blends modern, sleek and elegant shapes with unconventional materials, magnified by exceptional craftsmanship.
"This unique aesthetic perfectly complements our existing collection of renowned jewellery maisons."