MILAN — With private equity firm Clessidra SGR’s acquisition of a majority stake in Buccellati last year — and the subsequent arrival of new chief executive officer Thierry Andretta — the Italian jewelry company has been busy modernizing its artisanal image and plotting future growth.
“It’s a time of expansion, but also a kind of restart for the company,” said Andretta, noting that Buccellati has been focusing on making its jewelry more accessible to a wider range of customers, while remaining on the high end of the market: engagement rings in the new Romanza collection, for instance, range from between 7,000 and 8,000 euros, or about $9,755 to $11,148 at current exchange, to 30,000 or 40,000 euros, or $41,806 to $55,740, depending on the materials used.
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Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
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