PPR and Damiani Battle Over Pomellato
PPR effectively edged out Swarovksi, Renzo Rosso and Prada and is now the leading suitor left in the quest to acquire Pomellato.
The Milanese company, one of the few top independent jewelers left in the Europe, has been looking to increase its capital since 2011.
If PPR were to takeover Pomellato it would mark the second Italian luxury jeweler to fall into the hands of a French buyer, after Bulgari, acquisitioned by LVMH in 2011. As of yesterday, the only other serious contender PPR faced was the Damiani family, which already holds an 18 percent stake in Pomellato.
Pomellato began operating in 1967, introducing the concept of prêt-à-porter jewellery, the idea that jewellery is not just a status symbol but an accessory to be worn at any moment of the day and changed like clothes. In the 1990s, Pomellato particularly focused on using "coloured stones". The company has also made its mark in producing chains.
Pomellato jewels have very recognisable features: the emphasis on rounded and tactile forms. The pavé given an irregular, random style by using gemstones of various sizes and/or colours.
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