In the world of High Jewelry, the most precious asset isn’t just the 10-carat diamond—it’s the hands that set it. Kering has just made a masterstroke in vertical integration by announcing the staged acquisition of the Raselli Franco Group, the “secret weapon” behind some of the most exquisite jewelry on the planet.
The Artisan’s Engine Room Founded in 1969, Raselli Franco isn’t just a manufacturer; it’s a temple of innovation. While many houses rely on external workshops, this family-owned powerhouse does it all. From sourcing the rarest stones to pioneering CNC machining (think of it as high-tech sculpture for gold and platinum), they turn the dreams of designers into wearable masterpieces. For decades, they’ve been the silent partners behind the scenes, and now, they are officially joining the Kering family.
photo @Raselli Franco Group/ @gruppoerrepi.com
The Golden Handshake: Kering Secures the Crown Jewels of Craftsmanship
Why it matters for Boucheron & Co. – Kering’s jewelry stars—Boucheron, Pomellato, Dodo, and Qeelin—are currently enjoying a serious “growth spurt.” By bringing Raselli Franco into the fold, Kering isn’t just buying a factory; they are securing their future. In an era where “traceability” is the new luxury, owning the workshop means knowing exactly where every gram of gold and every sparkle of diamond comes from.
The Roadmap to 100% : this isn’t a hasty takeover; it’s a sophisticated, long-term marriage.
The First Step: Kering kicks things off in early 2026 with a €115 million investment for a 20% stake.
The Long Game: The agreement maps out a clear path to full ownership by 2032.
The Vision as Kering CEO Luca de Meo puts it, this is about “shaping the future of jewelry.” By marrying the creative spark of their iconic Houses with the technical wizardry of the Raselli family, Kering is building a powerhouse that can carve, engrave, and assemble the future of luxury with absolute precision.
In short: Kering just made sure that when it comes to the “Value Chain,” they hold all the links.
