The ancient Milanese fashion house Buccellati was sold by the Chinese of Gangtai Group to the Richemont group ♦ ︎
Buccellati has found a new property: it is the Richemont group, which controls brands such as Cartier, Van Cleef & Arpels, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Vacheron Constantin, Montblanc, dunhill and Chloé.
Richemont has acquired 100% of Italian jewelery in a private transaction with Gangtai Group, a Chinese private conglomerate that three years ago bought the majority of the jewelery company from the private equity fund Clessidra. Gangtai was the owner of the Italian jewelry brand with an 85% stake in the company acquired in 2016, while the remaining 15% of the company was still in the hands of the heirs, who now seem to have completely left the company, even though Andrea Buccellati will continue to work in society.
Buccellati has a long history behind it and just this year it celebrated its 100th anniversary. In fact, it was founded in Milan in 1919 by Mario Buccellati, who used the typical goldsmith technique of Florence, his hometown. Embroidered gold, with filigree and a fine craftsmanship that is still used in the Maison’s laboratories.
Distinguished by strong heritage, craftsmanship and family spirit, Buccellati is one of the few Maisons in the dynamic branded jewellery market which is complementary to our existing jewellery Maisons, in terms of style, origins and craftsmanship. Buccellati meets the needs of today’s customers who are looking for creative jewellery, with a highly distinctive style. We welcome Andrea Buccellati, his family and his team. With them, we share a culture of constant quest for creativity, innovation, quality and excellence. We look forward to ensuring the long term development of this unique jewellery Maison.
Johann Rupert, president of Richemont
