Pomellato Denies Sale Rumor

The Italian jeweler is once again making headlines as an acquisition target.

MILAN — Pomellato is once again making headlines as an acquisition target. According to pambianconews.com, the online site of Carlo Pambianco’s consultancy and magazine, the Italian jeweler “has accelerated sales negotiations” with “an industrial partner.”

But Andrea Morante, chief executive officer of Pomellato, told WWD that the company is continuing “in its path in the direction of a public listing on the Bourse and does not have comments regarding recent speculation.” Morante pointed to Swatch Group’s acquisition of Harry Winston sparking increased interest in the jewelry sector, “especially from those companies that were aiming at buying Harry Winston and did not succeed.”

Morante underscored that it was “inevitable” that Pomellato, for years now “the target of attention” in the luxury goods sector, would become “one of the most obvious targets of both speculative rumors and of actual interest from some operators that have recently renewed their interest” toward the company.

In October, Morante said Pomellato was evaluating a public listing, as it eyed brand extensions with watches and a fragrance and had plans to further develop the Asian and American markets.

Responding to questions about a possible takeover by a conglomerate such as PPR, frequently rumored to be interested in Pomellato, Morante said at the time that it was “normal” as the number of global and independent jewelry brands in the range of Pomellato is not large. However, Morante said the Rabolini family, which owns the brand, is not looking to sell. The executive said Pomellato has expressed interest in buying the 18 percent of shares owned by the Damiani family, which in 2011 assigned Mediobanca a mandate to explore offers. “But we never reached an agreement,” he explained.

Pambianco said Swatch could be looking at Pomellato to replicate its watch success in the jewelry arena with the Italian brand’s more affordable Dodo collection of animal-shaped charms.