Kering aims for high jewelry brand Vhernier after Valentino

Kering is preparing to make another strategic move in the luxury arena: the French group is considering acquiring a 49% stake in Vhernier, a prestigious Italian high jewelry house located in Valenza, in the "gold district" of Piedmont. Although Kering remains discreet, as is customary during major financial operations, the news was revealed by MFF (MF Fashion), an Italian media outlet dedicated to fashion and luxury professionals.

This potential acquisition comes shortly after Kering announced a 30% stake in Maison Valentino, a deal finalized just a week ago for a sum of 1.7 billion euros. These moves illustrate Kering's strategy to counter the trend of its recent less brilliant financial results. The group reported a net profit of 1.785 billion euros for the first half of 2023, down from the 1.988 billion recorded in the first half of the previous year.

Renowned for its Italian craftsmanship, Vhernier is currently under the guidance of businessman and art collector Carlo Traglio. The house has a boutique on Paris' Rue Saint Honoré and enjoys an excellent reputation, particularly among iconic French brands such as Hermès, which entrusted Vhernier with creating its Centaure line. As a niche label, Vhernier stands out with its flagship collections like Calla, Pirouette, and Palloncino, among others, featuring pieces priced from 1,000 to 10,000 euros.

Severely impacted by the pandemic, the company, which generated over 30 million euros in revenue in 2019, has not yet returned to its pre-crisis figures, but integration into Kering's portfolio could propel the brand onto the international stage.

In the background, this acquisition highlights a growing trend: large French groups, financially stronger, acquiring niche Italian brands. This phenomenon regularly triggers negative reactions from the Italian press, discontented with witnessing the dispersion of cultural heritage and artisanal know-how into the hands of foreign economic entities.