Cartier proprietor Richemont is buying one hundred pc of the Italian jewelry home Vhernier, finest recognized for its foldover Abbraccio ring, from the Traglio household. The phrases of the transaction weren’t disclosed.
Vhernier is small, with annual revenues within the €50-100 million vary, in line with Bernstein estimates. However Richemont has a historical past of turning small manufacturers into success tales: Van Cleef & Arpels and Buccellati have been each about the identical dimension as Vhernier when Richemont acquired them in 1999 and 2019, respectively.
Study extra:
Richemont Shares Surge As Demand for Cartier, Van Cleef Boosts Holiday Sales
Gross sales rose 8 % year-on-year for the three months ending December 2023 to €5.6 billion, beating analyst expectations.
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