LVMH, the world’s leading luxury group, has recently announced its acquisition of Pedemonte, an esteemed jewelry producer based in Italy and France. This strategic acquisition, facilitated through the Equinox investment fund, will enable LVMH to greatly enhance its production capabilities in the luxury jewelry sector. Pedemonte was established in 2020 following the merger of multiple independent jewelry production workshops, blending traditional craftsmanship with cutting-edge technology. Notable workshops within the group include VPA, Lombardi, Greco F.lli, Gieffedi, and Thea, all of which produce jewelry for renowned international brands. Lombardi specializes in crafting tailor-made fine jewelry, while VPA combines traditional techniques with digitally controlled machining centers. Additionally, the Pedemonte group also owns the iconic Vendorafa jewelry brand, which has been operating since 1951.
LVMH’s acquisition of Pedemonte comes at a time when its existing workshops are already experiencing significant growth within the jewelry division. In the first nine months of this year alone, LVMH’s watches and jewelry division generated a remarkable revenue of €7.57 billion, showcasing a substantial 16% increase compared to the same period last year.
Toni Belloni, Deputy Managing Director of LVMH, expressed the company’s unwavering commitment to supporting the ecosystem of companies that contribute to the success of their maisons. The acquisition of Pedemonte will further solidify LVMH’s presence in Italy and provide their maisons with a distinguished partner renowned for its expertise, bolstering their prospects for growth and advancement.
Angelo Facchinetti, partner at Equinox, conveyed his satisfaction with LVMH’s interest in Pedemonte’s high-performance manufacturing platform, underscoring the international significance and esteemed reputation of the luxury group. Gian Andrea Garrone, CEO of Pedemonte, highlighted the immense benefits of the acquisition, stating that it will enable them to maintain their ambitious development goals, strengthen their workforce, and invest in innovative technologies to tackle future challenges.
In conclusion, LVMH’s acquisition of Pedemonte represents a momentous stride in expanding their production capabilities within the luxury jewelry sector. The collaboration between these two powerhouse companies is poised to yield further growth and success for both entities involved.
Useful links:
1. LVMH Official Website
2. Pedemonte Official Website
