In a strategic move, Richemont, the parent group of luxury brands, including Cartier, has acquired 100% ownership of Milan-based jewelry brand Vhernier from the Traglio family, in a transaction whose financial details remain undisclosed.
Chairman of Richemont, Johann Rupert, expressed enthusiasm about the acquisition, highlighting Vhernier’s aesthetic alignment with the existing collection of jewelry Maisons under the group, such as Buccellati, Cartier, and Van Cleef & Arpels.
Founded in 1984 in Valenza, Italy, Vhernier, acquired by the Traglio family in 2001, specializes in handcrafted jewelry, primarily distributed through a selective network of mono-brand boutiques and multi-brand stores across Europe and the United States.
Chairman Carlo Traglio and CEO Maurizio Traglio of Vhernier expressed confidence in the brand’s future prospects under Richemont’s stewardship, emphasizing the group’s expertise and commitment to nurturing distinctive jewelry Maisons.
Apart from its jewelry business, Vhernier also operates a silverware home decor brand, De Vecchi Milano 1935.
Richemont assured investors that the acquisition of Vhernier would not significantly impact the group’s consolidated net assets or operating results for the fiscal year ending March 31.
This latest acquisition follows Richemont’s pattern of strategic expansion, including its acquisition of a controlling stake in Italian shoemaking brand Gianvito Rossi in July of the previous year.
