Kering invests in jewellery and takes over 20% of the Raselli Franco manufacturing group

The Kering group has announced a 20% stake in the Raselli Franco S.p.a. group, one of the most important in the jewellery prototyping and production sector. A gradual increase in the stake towards full ownership is planned by 2032. Founded in 1969 in Valenza, in the heart of Piedmont's goldsmith district, it is now an international group with offices in four countries, over 500 employees, and is able to process more than 300 thousand pieces and set more than 4 million stones every year.

The deal is the first of its kind carried out by the French group since the arrival of Luca de Meo as its new CEO last September, and is part of Kering's re-launch strategy, which has identified jewellery as one of its biggest growth assets. Kering's jewellery portfolio includes Boucheron, Pomellato, DoDo and the Chinese brand Qeeling, but jewellery collections are also offered by fashion houses from Gucci to Bottega Veneta.

According to the recent Luxury Goods Worldwide Market Study 2025 by Bain & Co.-Altagamma, jewellery was the fastest growing personal luxury goods category this year (+4/6%). According to McKinsey's Fashion Growth Forecasts, jewellery sales will grow by 4.1% annually between 2025 and 2028, a rate four times higher than that of clothing.

Two days ago Kering sold a 60 per cent stake in the property at 715-717 Fifth Avenue in New York City to Ardian, a major private equity firm: the transaction, which led to the creation of a joint venture, amounts to USD 900m (EUR 766m), with net proceeds for Kering of USD 690m (EUR 587m).

In the third quarter 2025 Kering reported revenues of EUR 3.4 billion, down 10% at current exchange rates (-5% at constant rates) compared to the same period in 2024.