Gismondi 1754

Growth in turnover, also thanks to the acquisitions made last year: the first quarter of 2024 of Gismondi 1754, listed on Euronext Growth Milan, disclosed the consolidated sales management results on a voluntary basis. As of March 31, Gismondi 1754 recorded total sales revenues of 4.3 million euros, an increase of 5% compared to the 4.1 of the first quarter of 2023. The special sales channel (1.4 million) and in the Wholesale channel (1.5 million), a slight contraction compared to the corresponding period of 2023. It should be noted that the new production channel enters the consolidated balance sheet, which concerns the acquisition of Hyperionlab, which contributed to 7% of the turnover, while the sales points showed a contraction in consumption due to the geopolitical crisis.

I am satisfied with this positive result because, as already during the lockdown, in this period of uncertainty and global crisis, our philosophy of customer attention allows us, through special sales and thanks to the stability of the American wholesale, to present growth compared to to the first quarter of 2023, in contrast to the results of the jewelery sector. We are confident that we will be able to present satisfactory numbers, despite the continuation of the crisis, in the remaining part of the year thanks to the consolidation of the markets already covered and the opening of new markets. Furthermore, the acquisition of Hyperion will guarantee control of the production chain with an increase in margins and turnover.
Massimo Gismondi, CEO of Gismondi 1754

More investments and a little less profits for Gismondi 1754, which has announced its 2023 budget results. The Genoese company, listed on the Euronext Growth Milan of the Italian Stock Exchange, last year purchased Vendorafa and Hyperion Lab, as well as having a five-year franchising agreement was signed (with the option of renewal between the parties upon expiry) with the Al Mana family (Qatar) for the distribution of the Italian brand’s jewels in the Gulf area: operations which are reflected in the economic result. In addition to having approved the financial statements, the board of directors decided to propose to the shareholders’ meeting changes to the regulation of the Gismondi 1754 Warrants, scheduled to expire in 2024 and extended to 2026, with a new price and the objective of allowing «holders of the Warrants a longer time for exercise”. The effect is also to extend the subscription deadline for the necessary capital increase, with clear financial benefit for the company.

Despite the continuation of the state of socioeconomic uncertainty – determined by the wars and the Chinese crisis and despite the end of the revenge shopping effect which positively influenced the 2021/2022 turnover – I am very satisfied with the results achieved, as the company has demonstrated readiness and flexibility in facing the negative scenario that has affected the entire luxury segment. Even with the right prudence, I am confident in the future because the actions taken for total control of the supply chain, thanks to the acquisition of Hyperionlab, will allow us to expand our business with greater profits.
Massimo Gismondi, CEO of Gismondi 1754

Results in line for the Gismondi 1754 group. In 2023 the jewelry company achieved overall revenues of 14 million euros, the same result as the previous year, which was particularly positive. Since its listing on the Euronext Growth Milan stock exchange in 2019, the Genoese company had a turnover of 5.69 million euros. In short, the increase was notable. 2023 was a two-speed year: sales in the fourth quarter of 2023 were 3.7 million, with a decrease of 15%, compared to the corresponding period of 2022. A decrease of 637,733 euros), explains the company, is mainly attributable to a contraction in sales on Wholesale Europe in the fourth quarter and in special sales in the fourth quarter which instead performed well in previous quarters. Which is also roughly the trend of the entire jewelry sector.

2023 essentially confirms the excellent result of the previous year in a difficult general scenario. The already unstable geopolitical situation has worsened with the Hamas-Israel conflict and recent developments in the Red Sea. We have also seen a counterbalance of what many analysts have called Revenge Shopping, that is, the optimism that has led to an exciting post-pandemic purchasing spree. Although we have not repeated the increase in turnover of recent years, I consider 2023 as a fundamental year in the development of our Group. An importance given by the preparation of fertile ground to look to the future with confidence and solidity. The purchase of the Vendorafa brand, the Hyperion Lab factory and the opening of our franchise in Doha are in fact all brilliant flashes that illuminate our path. Positive signs that we are also seeing in recent days in the interest shown at VicenzaOro for our two brands Gismondi 1754 and Vendorafa.
Massimo Gismondi, CEO of Gismondi 1754

After Vendorafa, Gismondi 1754 scores another acquisition. The Genoese Maison has signed a binding offer for Hyperion Lab, a high-end jewelery factory in Valenza. At the end of the operation, the company led by Massimo Gismondi, listed on Euronext Growth Milan, will hold the entire share capital of Hyperion Lab. The first step is the sale of a 51% stake in the share capital of the Valencian company which reports to Fabio Magrin, who is followed by the granting of a purchase option for the remaining part of the shareholding (36.3%) held by the majority shareholder and the granting of a purchase option for the shareholdings held by the shareholders minority Matteo Zamboni and Mauro Trincheri (12.7%). The sellers are also expected to reinvest part of the proceeds into the group. The operation is worth around 1 million euros.

I am pleased to communicate this fundamental strategic operation which guarantees us to have production autonomy, while at the same time increasing turnover and margins, thanks to contracting. This operation also confirms an aspect of our industrial vision that we have had in mind for some time: being convinced supporters of Made in Italy as an essential element of identity. Once again with this acquisition we renew the deep roots in our motto handmade in Italy by Italians, which distinguishes us and with which we enhance and pass on Italian craftsmanship and high specialization in the sector.
Massimo Gismondi, CEO of Gismondi 1754

Becoming part of a group like Gismondi 1754, dynamic and ambitious, is a source of pride and enthusiasm for the entire management and for all the employees. This operation will allow us to further develop our production and face new challenges while always keeping production rooted in the territory.
Fabio Magrin, owner and CEO of Hyperion Lab

A positive year, albeit with a lackluster third quarter; Gismondi 1754 announces the operating result for the first three quarters of the year, which marks a growth of 7% to over 10 million in revenues compared to the corresponding period of 2022. At the same time, the Genoese jewelery company listed on the stock exchange Euronext Growth Milan reports a stop for the July-September period, which saw sales of 2.3 million, down 8% compared to the third quarter of last year.

Despite the difficult economic moment caused by elements external to the company, I am referring to the continuation of the conflict in Ukraine and the economic and social instability at a global level, I can point out that thanks to the special business model that has already supported us during the pandemic ( our relationship of great closeness to end customers) we can present a positive result which gives us hope, but with the necessary caution, in the results for the end of the year”.
Massimo Gismondi, CEO of Gismondi 1754

Gismondi 1754 is among the rare jewelery companies that provides information on its activity. The laudable policy includes the half-yearly results of the Genoese company, listed on Euronext Growth Milan. The consolidated half-yearly report as of 30 June 2023 indicates a production value of 8.05 million euros, with an increase of 11% compared to the 7.23 million of the first half of 2022. The wholesale channel grew in absolute value by 4% compared to the same period of 2022, mainly thanks to the increase in Europe (+1.4 million compared to the first half of 2022). As regards special sales, the first half of 2023 closed in line with the first half of 2022, while the franchising channel grew in absolute terms by 3% thanks to the new contract signed for the opening in Qatar.

The business performance in the first half of 2023 confirms the continuous and constant growth of Gismondi 1754, despite the international geopolitical instability and the recent economic data arriving from the Far East, in particular from China, which, inevitably, are already influencing the both American and European economies. Our development plan, for the second half of the year, will be focused on the consolidation of our positions in the USA and the Middle East, with the imminent opening of our first franchise in Qatar, and on the implementation of our wholesale network in reference markets such as ‘Europe, with a focus on Germany. The latter, together with Spain, represent a new market for us, recently opened with the VicenzaOro fair. As previously communicated, external growth is an objective of the Company and, after the acquisition of the Vendorafa brand, we are in fact evaluating other strategic operations to cover the entire value chain. I would like to point out that our growth will be supported with our own internal resources and I exclude the opening of capital to attract new finance.
Massimo Gismondi, CEO of Gismondi 1754