- Prachi Singh |
Richemont has announced the acquisition of Buccellati Holding Italia S.p.A., the owner of Buccellati, the Italian jewellery Maison, in a private transaction with Gangtai Group Corporation Limited.
Commenting on the acquisition, Johann Rupert, Chairman of Richemont, said in a statement: “Distinguished by strong heritage, craftsmanship and family spirit, Buccellati is one of the few maisons in the dynamic branded jewellery market which is complementary to our existing jewellery maisons, in terms of style, origins and craftsmanship.”
Buccellati, the company said, was founded in Milan in 1919 by Mario Buccellati and is renowned for the highly distinctive look-and-feel evoking silk, damask, tulle and linen. All jewellery pieces are handcrafted with techniques dating back to the Renaissance, in Buccellati’s four in-house workshops, all located in Italy. Buccellati is also active in the fields of watchmaking and silverware.
“We are extremely glad to have successfully contributed to the introduction of the prestigious Buccellati brand in the Greater China market, strengthening Buccellati’s identity and enhancing all of the elements which make it one of the best-known brands worldwide in the fine jewellery sector. We are now honoured and proud that Richemont will continue the journey, ensuring Buccellati’s great success, starting from the celebration of its 100th Anniversary,” added Xu Jiangang, founder and Chairman of Gangtai Group.