Swiss materials and surface solutions provider, Oerlikon, is making waves in the fashion industry with its planned acquisition of fellow Swiss company, Riri. Specializing in coated metal accessories, Riri is renowned for its high-quality zips and is a leading producer for luxury brands. This strategic move by Oerlikon is set to expand their offerings and market access within their Surface Solutions division.
With the acquisition of Riri, Oerlikon aims to strengthen its position in the luxury business, particularly in fashion jewelry and metallic components for leather goods. Michael Suess, the Executive Chairman of Oerlikon, is confident that this acquisition, combined with their previous acquisition of Coeurdor in 2021, will establish Oerlikon as a market leader and integrated provider of coated luxury metalware for high-end fashion brands.
One of the key advantages of this acquisition is the potential for cross-selling and expanding Oerlikon’s presence in the global luxury metalware market, which experiences consistent growth rates each year. Renato Usoni, the CEO of Riri, highlights that their portfolio, especially in zippers and buttons, complements Oerlikon’s strengths in coated metal-based fashion components. This synergy positions them ideally in Italy and France, the two major European fashion hubs, where they can deliver a comprehensive offering to fashion customers.
Furthermore, the partnership between Oerlikon and Riri will contribute to the luxury goods industry’s transition to greener technology and sustainability. Oerlikon’s innovative technologies, such as their PVD1, will play a significant role in this sustainability transition.
The completion of the acquisition is expected in the first quarter of 2023, pending regulatory approvals and standard closing conditions. Riri predicts sales of €170 million in 2022, a testament to their success within the luxury metalware market. This acquisition signifies a significant milestone for Oerlikon and paves the way for their continued growth and success in the industry.
Useful links:
1. Oerlikon Official Website
2. Riri Official Website
