Luxury Group LVMH has officially announced the acquisition of jewelry manufacturer, Pedemonte Group, which employs 350 artisans and workers at its three locations in Valezi and Valmadonna (northern Italy) and in Paris. The integration of Pedemonte, reports HypeBeast, will enable LVMH to increase production capacities and expand its offerings in the growing category of luxury jewelry.
Pedemonte Group was formed two years ago by integrating various independent manufacturers such as Villa Pedemonte Atelier and Vendorafa, which have several decades of tradition and experience in jewelry making, and is currently owned by Equinox.
Strategic Move
At this moment, it is not known at what price LVMH plans to acquire Pedemonte, but it is certainly a wise strategic move. According to LVMH, the acquisition will strengthen its position in the Italian market and continue to support the ecosystem of companies that contribute to the overall success of the group.
The mentioned ecosystem, or LVMH portfolio, includes well-known players from the world of watches and jewelry such as Chaumet, Tiffany&Co, Bulgari, Hublot, FRED, TAG Heuer, and Zenith.
– With Pedemonte, companies will gain a partner whose know-how will support their growth and enable them to be leaders in the luxury jewelry market – stated LVMH, while the CEO of Pedemonte Group, Gian Andrea Garrone, noted that they are proud to become part of a prestigious company and believe that this will ensure stronger development, the adoption of new employee skills, as well as new technologies.
