Kering Officially Acquires Pomellato

After months of serious consideration, Kering (formerly PPR) has confirmed its acquisition of a majority stake in the Italian jeweler Pomellato. The French conglomerate said it would support the international development of the Pomellato and Dodo jewelry brands.

Although financial terms of the agreement with RA.MO SpA were not disclosed, Kering said that Andrea Morante would remain CEO of the company.

As far as revenues, Pomellato is the fifth-largest jewelry brand in Europe following Cartier, Chopard, Bulgari and Tiffany & Co. This past fall they launched their first silver collection, Polellato 67, during Milan Fashion week. "This is more than [just] expanding the brand. In this case, we see it as a new collection and, potentially, a new brand," Morante said at the time. All jewelry in the new silver range, named after the year the company was founded, is produced in the same Milan factory as the main gold line.

Kering has often said its preference for finding small to medium sized brands and growing them to worldwide recognition. One example example would be how it multiplied the size of Balenciaga by 11times since it was acquired in 2001.

Kering's current brands includes Gucci, Yves Saint Laurent, Balenciaga, Stella McCartney, Bottega Veneta, Puma and Volcom.