Gangsu Gangtai Holding (Group) Co. Ltd., a Chinese group listed on the Shanghai Stock Exchange, has acquired an 85% stake in Buccellati Holding Italia, an Italian high-end jewelry brand.
The transaction is based on an equity value of €230m for 100% of the company.
The transaction aims at reinforcing Buccellati’s international presence with an investment plan of €200m, which will fund the opening of 88 new monobrand stores and significant production and marketing investments to sustain a strong growth in the existing markets, namely Italy, Europe and North America, and also to develop in the new markets, such as China, Asia, the Middle East and East Europe while maintaining the brand’s historical excellence and tradition.
Founded in Milan in 1919, Buccellati is one of the most prestigious Italian high-end jewelry brand renowned all over the world for its craftsmanship, design and originality. The company, which was previously held by Clessidra and the Buccellati family, has a wide international presence particularly in Europe (especially in Italy, France and the UK) and in the United States, through both directly operated stores and distributors.
To ensure the continuity of the brand’s traditions, the core family members will keep their roles as managers within the company. Andrea Buccellati will maintain his position as Creative Director and Honorary Chairman while CEO Gianluca Brozzetti has been confirmed still at the helm of the company.