WONDER WORKS

PORTFOLIO Magazine|May - June 2020

WONDER WORKS
Will Richemont’s acquisition of Buccellati secure undiminished success for the century-old Italian brand?
TALLULAH LU

In September 2019, Compagnie Financiere Richemont completed the full acquisition of Buccellati from China’s Gansu Gangtai Holding Group. (The Chinese company acquired its controlling share of 85 percent in 2016.) The acquisition by the Switzerland-based luxury brands holding company was seen by many as a herald for a new era for the centenarian Italian jewelry brand.

“One of the main reasons why Buccellati was so interesting for Richemont was focused on the quality and specificity of the Buccellati’s craftsmanship,” beams Mr. Luca Buccellati, whose enviable task is to travel the world and engage Buccellati’s VIP customers. His recent trip to Singapore was highlighted by a series of exclusive presentations for VIP customers organized by local luxury events company Privato.

“We are all sure and confident that Richemont will help us develop while staying true to our DNA, because this is why it chose us,” Mr. Buccellati says of the business move. “Moreover, at the time of the acquisition, (Richemont chairman) Mr. Johann Rubert himself stated that Buccellati is one of the few maisons in the jewelry market that is complementary to Richemont’s existing jewelry maisons, in terms of style, origin and craftsmanship.” Buccellati joins high jewelry brands Cartier and Van Cleef & Arpels at Richemont, as well as watch brands such as Piaget, which has a cachet for jewelry timepieces.

In this sense, Mr. Buccellati confirms that the maison’s style patrimony will be preserved. “Of course, Mr. Andrea Buccellati, our creative director, is totally committed to this vision and is drawing new exciting collections to come,” he adds.

The Prince of Goldsmiths

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May - June 2020