No financial details disclosed (Il Sole 24 Ore Radiocor) - Bern, 07 May - Swiss luxury group Richemont said it has reached an agreement to acquire 100% of Italian jewellery Maison Vhernier in a private transaction for which no financial details were disclosed.

Founded in Valenza in 1984 and headquartered in Milan, Vhernier was acquired by the Traglio family in 2001.

All jewellery pieces are handcrafted in Valenza, recognized for its jewellery manufacturing excellence, ensuring the highest level of craftsmanship and quality. They are sold through a highly selective network of mono-brand boutiques and prestigious multi-brand stores, predominantly in Europe and the US.

Vhernier also operates De Vecchi Milano 1935, an Italian heritage silverware home decor brand.

The transaction will have no material financial impact on Richemont's consolidated net assets or operating result for the year ending March 31, 2025. The results of Vhernier will be reported under the Jewellery Maisons business area.

Completion remains subject to certain customary conditions and regulatory approvals.

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(RADIOCOR) 07-05-24 10:50:10 (0324) 5 NNNN