LVMH acquires Italian jewellery manufacturer Pedemonte

LVMH Group has announced the acquisition of the Pedemonte Group, a jewelry producer present in Italy and France, from the Equinox III SLP SIF investment fund. The company said in a release that the strategic operation for the watches & jewelry division and its jewellery maisons will allow the group to significantly increase its production capacity, while the existing workshops are mobilising all their resources to support the strong growth of the division. “With this strategic acquisition for our maisons, the LVMH Group further strengthens its presence in Italy while continuing to support the ecosystem of companies that contribute to the success of our maisons,” said Toni Belloni, deputy managing sirector of the LVMH Group. “With Pedemonte, our maisons will gain a partner recognized for its know-how to support their growth and maintain their leadership in jewellery,” Belloni added. Created in 2020 from the merger of several independent production workshops, each with several decades of existence and experience, the Pedemonte Group is a recognized player in jewellery manufacturing. With locations in the cities of Valenza and Valmadonna (Alessandria) in northern Italy, as well as in Paris, the Pedemonte Group combines cutting-edge technology with artisanal craftsmanship. Commenting on the development, Gian Andrea Garrone, chairman and CEO of Pedemonte Group said: “This operation will allow us to maintain our ambitions in terms of development, training and strengthening of our human resources, the heart of our activities. We will also pursue an ambitious investment policy to meet new challenges, particularly in technology.” LVMH added that the company currently employs 350 artisans and employees who will continue to provide, alongside the current management, their expertise, their skills and their know-how, sometimes passed from one generation to the next, to support the production of jewellery pieces for all of its customers. “We are very pleased to welcome the teams from the Pedemonte Group and its subsidiaries with whom we have been working for many years. Today our stories and our values come together around this spirit of excellence and enterprise, the perpetuation of craftsmanship and the development of creativity,” said Stéphane Bianchi, chairman and CEO of the group’s watches & jewelry division.
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