LVMH acquires majority stake in Italian jeweller Repossi
LVMH has added a new brand to its portfolio: Italian jewellery house Repossi, founded in Turn in 1920. The French luxury group led by Bernard Arnault first claimed a minority stake in the brand in November 2015 with the aim to "support its development", and became the company's majority shareholder last year.
This information has now been made public in a document published by the group about its 2018 financial operations, which clearly states that "Repossi, an Italian jewellery brand in which the group acquired a 41.7% stake in November 2015, consolidated until 31 December 2017 under the equity method, is now consolidated by global integration, following the group's acquisition of a supplementary stake in the company, which brought its stake up from 41.7% to 68.9%." The value of the transaction, however, was not specified.
Thanks to LVMH's support, the jeweller has been able to accelerate its international expansion, reinforcing its retail network by opening spaces in department stores around the world, from London to the Middle East. The brand also has a store in Paris' Place Vendôme.
Gaia Repossi, who represents the fourth generation of the house's founding family, took over as the brand's creative director in 2007 and has since implemented a radical change in its offering, introducing a more contemporary style based around architectural designs, as well as new techniques which have revolutionised the Repossi ateliers founded in 1925.
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