French luxury group Kering has completed the first step in its phased acquisition of Raselli Franco Group, securing a 20% stake for €115 million as part of a long-term strategic move to strengthen its jewellery capabilities.
The transaction, initially announced in December 2025, outlines a clear roadmap for Kering to take full ownership of the Italy-based jewellery manufacturer by 2032.
Raselli Franco Group, founded in 1969, is recognised as one of Europe’s largest independent luxury jewellery manufacturers, with expertise spanning the entire value chain—from sourcing raw materials and gemstones to design, prototyping, production and quality control.
Kering said the acquisition aligns with its strategy to accelerate the development of its jewellery division and reinforce control over manufacturing capabilities. The move is expected to support long-term growth across its Houses, including Boucheron, Pomellato, DoDo, and Qeelin.
The deal also reflects Kering’s broader push to build stronger in-house production capabilities and reduce reliance on external suppliers, particularly as it scales its jewellery business amid growing global demand.
Kering reported revenue of €14.7 billion in 2025 and continues to position jewellery as a key growth pillar within its portfolio of luxury brands.