Richemont, the parent company of Cartier, has acquired Vhernier, an Italian jewelry brand based in Milan. The purchase involves obtaining 100% ownership from the Traglio family, with the transaction amount remaining undisclosed.
According to Johann Rupert, Chairman of Richemont, Vhernier’s aesthetic aligns well with the group’s existing jewelry collections, which include prestigious names like Buccellati, Cartier, and Van Cleef & Arpels.
Established in Valenza in 1984, Vhernier came under the ownership of the Traglio family in 2001. The brand specializes in handcrafted jewelry, primarily distributed through exclusive mono-brand boutiques and multi-brand stores across Europe and the US.
Expressing confidence in the brand’s future, both Carlo Traglio and Maurizio Traglio, respectively Chairman and CEO of Vhernier, anticipate growth and development under Richemont’s guidance.
In addition to its jewelry line, Vhernier also operates De Vecchi Milano 1935, a brand specializing in silverware and home decor.
Richemont reassures that the acquisition will not significantly affect the group’s financial standing for the fiscal year ending March 31st.
This acquisition comes after Richemont’s previous purchase of a controlling stake in Gianvito Rossi, an Italian luxury shoemaker, in July of last year.