Luxury conglomerate Kering, with an already fabulous portfolio – Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Stella McCartney among so many others – has just given more lustre to its business, through the concluding of its acquisition of Italian jeweller Pomellato.
François-Henri Pinault, Kering Chairman and CEO, says that ’’Synonymous with Italian style, Pomellato and Dodo rank among the most beautiful and innovative jewellery brands in the world.’’ Delighted to have Pomellato and its second brand, Dodo, as part of the Kering group, he admits that ’’We have great ambitions for the Pomellato group, which, with access to our expertise and know-how, will be able to step up the pace of its growth and expand its geographic footprint while preserving the values that underpin its Italian identity. ’’
His Pomellato counterpart, Andrea Morante, shares his vision, and the numbers both have based their moves do confirm their optimism.
The Italian jeweller has had a total income of EUR 146 million in 2012, thanks to its network of boutiques – 86 mono-brand, with 45 for Pomellato and 41 for Dodo, and other over 600 worldwide sale points. Its strongest presence is in European capitals, followed by the Middle East, Asia and the United States.
Kering is active in more than 120 countries, and its fashion and luxury items brands – among which also jewellers Boucheron and Qeelin – have, for the previous year, generated world sales of EUR 9.7 billion.
Both parties are confident that Kering’s brand management, distribution or media resources are going to be particularly beneficial for Europe’s 4th most important jeweller, while Pomellato is to bring to the group managed by Pinault the capital of its truly iconic style.
Photo sources: Pomellato, Kering