LVMH strengthens its position in jewelry with the acquisition of Pedemonte
LVMH Group announces the acquisition, from the Equinox III SLP SIF investment fund, of the Pedemonte Group, a jewelry producer present in Italy and France. This strategic operation for the Watches & Jewelry Division and its jewelry Maisons will allow the Group to significantly increase its production capacity, while the existing workshops are mobilizing all their resources to support the strong growth of the Division.
Created in 2020 from the merger of several independent production workshops, each with several decades of existence and experience, the Pedemonte Group is today a recognized player in jewelry 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. It is involved in all the key stages of production and has demonstrated total excellence in execution in all its collaborations with LVMH Maisons.
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 jewelry pieces for all of its customers.
“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. With Pedemonte, our Maisons will gain a partner recognized for its know-how to support their growth and maintain their leadership in jewelry,” said Toni Belloni, Deputy Managing Director of the LVMH Group.
“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” adds Stéphane Bianchi, Chairman and CEO of the Watches & Jewelry Division.
“We are extremely proud of the group’s history and growth. The deployment of a high-performance manufacturing platform has garnered the interest of an international player as relevant and important as LVMH,” comments Angelo Facchinetti, Partner at Equinox, a private equity firm.
“Joining the LVMH Group is a source of pride and motivation for the entire management team and employees. 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,” says Gian Andrea Garrone, Chairman and CEO of Pedemonte Group.