LONDON – Richemont has added another jeweler to its burgeoning portfolio with the acquisition of the Italian brand Vhernier. The luxury giant, parent of brands including Cartier and Van Cleef & Arpels, said Tuesday that it has acquired 100 percent of Vhernier in a private transaction.
Vhernier was founded in Valenza, Italy as a goldsmith’s workshop in 1984, and is headquartered in Milan. It has been owned by the Traglio family in 2001. WWD first reported in 2018 that the Traglio family was interested in selling, and that a book was circulating on the jewelry firm.
Vhernier is known for its bold gold designs inspired by the curves of the human body, and modern sculpture. The jewelry combines precious metals, gems, and materials such as titanium, bronze and ebony.
Popular styles include the Calla and Blue Velvet necklaces, the Pirouette ring and Vague earrings.
The pieces are handcrafted in the jewelry hub of Valenza, and sold through mono-brand boutiques and multi-brand stores, mainly in Europe and the U.S. In London, the brand has a flagship on the corner of Bond Street and Burlington Gardens, near The Royal Academy.
Vhernier also operates De Vecchi Milano 1935, an Italian heritage silverware home decor brand.
Richemont’s chairman Johann Rupert said Vhernier “brings a distinguished and distinctive design, and exceptional craftsmanship” to the portfolio, adding that its “unique aesthetic perfectly complements our existing collection” of jewelry maisons.
He also welcomed Vhernier’s team to Richemont, and said they’d be working together to realize the full potential of the brand within “the thriving branded jewelry market.”
Carlo Traglio, Vhernier’s chairman, and Maurizio Traglio, the company’s chief executive officer said in a statement: “Our distinctive jewelry maison will flourish under Richemont’s stewardship, expertise and careful nurturing.”
Richemont, which plans to publish its fiscal 2024 results next week, said the transaction will have no material financial impact on its consolidated net assets or operating result for the year ending March 31, 2025.
Barclays wrote in a brief note Tuesday that while the deal shouldn’t have much impact on Richemont as a whole, “we welcome the fact that Richemont focuses on its core jewelry division.”
Richemont shares were down 0.5 percent at 131.30 Swiss francs at 10:45 a.m. CET on Tuesday.
