Richemont: buys Italian jewellery house Buccellati
(CercleFinance.com) - Richemont has acquired 100% of Italian jewellery house Buccellati from China's Gangtai in a deal whose financial terms were not disclosed, the Swiss luxury group said on Friday.
Founded in Milan in 1919, Buccellati is known for its handcrafted pieces, using techniques dating back to the Renaissance, and made in the company's four in-house workshops, all of which are based in Italy.
Buccellati is also present in the watchmaking and silverware segments. The transaction will have no material financial impact on Richemont's operating result for the year ending 31 March 2020, the group said.
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