LONDON – Richemont has expanded its collection of jewelry brands by acquiring the Italian brand Vhernier. The luxury company, which owns brands like Cartier and Van Cleef & Arpels, announced on Tuesday that it has purchased the entire Vhernier brand in a private deal.
Vhernier started in Valenza, Italy as a goldsmith's workshop in 1984, and is now based in Milan. The Traglio family took ownership in 2001. Reports in 2018 mentioned the family's intention to sell the business, with a book about the jewelry company being circulated.
Vhernier creates unique gold jewelry influenced by the shapes of the human body and contemporary art. They use a mix of metals, gemstones, and unconventional materials like titanium, bronze, and ebony.
The Calla and Blue Velvet necklaces, the Pirouette ring, and Vague earrings are some of the popular styles.
The jewelry is made by hand in Valenza, a hub known for jewelry making. It is sold in stores in Europe and the U.S. The brand has a flagship store in London on Bond Street and Burlington Gardens, close to The Royal Academy.
Vhernier also runs De Vecchi Milano 1935, an Italian brand specializing in silverware and home decor.
Johann Rupert, the chairman of Richemont, stated that Vhernier adds a special and unique design, along with exceptional craftsmanship, to their collection. He also mentioned that Vhernier's distinct aesthetic perfectly complements their current collection of jewelry brands.
He greeted Vhernier's team at Richemont and mentioned they would collaborate to maximize the brand's potential in the growing branded jewelry market.
Carlo Traglio, the chairman of Vhernier, and Maurizio Traglio, the CEO of the company, stated that they believe Richemont will help their unique jewelry brand grow and thrive.
Richemont, a company that will release its fiscal 2024 results in the upcoming week, stated that the transaction will not significantly affect its consolidated net assets or operating result for the year ending March 31, 2025.
Barclays mentioned in a short message on Tuesday that the deal won't affect Richemont much overall, but they are happy that Richemont is concentrating on its main jewelry sector.
Richemont shares were down 0.5 percent at 131.30 Swiss francs at 10:45 a.m. CET on Tuesday.
