Richemont acquires 100% of Italian jewellery brand Vhernier

Richemont completes its portfolio of jewellery brands (Buccellati, Cartier and Van Cleef & Arpels) with the acquisition on Tuesday 7 May of the Italian jewellery brand Vhernier, renowned for the modern aesthetics of its jewellery. Founded in Valenza, Italy, in 1984 and based in Milan, Vhernier was acquired by the Traglio family in 2001. Vhernier also operates De Vecchi Milano 1935, an Italian interior design brand, renowned for its contemporary and timeless design, with which it shares the same passion for design, quality and Made in Italy craftsmanship.

This acquisition strengthens a particularly buoyant sector for the Group, given that in the quarter to 31 December 2023, the Jewellery sector continued to generate the best performances (+12% at constant exchange rates and +6% at actual rates).

The transaction will have no material financial impact on Richemont's consolidated net assets or operating profit for the year ending 31 March 2025. Vhernier's results will be reported under the Jewellery Maisons business segment. Completion of the transaction remains subject to certain customary conditions and regulatory approval.

“Maison Vhernier brings a distinctive design,” said Johann Rupert, President of Richemont, “that perfectly complements our existing collection of renowned jewellery houses. We look forward to working together to realise the full potential of this exceptional Maison in the burgeoning branded jewellery market.”

All jewellery pieces arehandcrafted in Valenza, a town renowned for the excellence of its manufacturing excellence, and is sold through a selective network of mono-brand boutiques and prestigious multi-brand stores, mainly in Europe and the United States.

Carlo Traglio, President, and Maurizio Traglio, CEO of Vhernier, commented: "We are delighted that Vhernier is joining Richemont, the undisputed leader in designer jewellery. We are convinced that our distinctive jewellery House will flourish under the aegis of Richemont, thanks to its expertise and attentive care."

On the announcement of the takeover, Richemont's share price remained stable at CHF 132 on the stock exchange.