Clessidra Acquires Majority Stake in Buccellati Group

The Buccellati family retains a minority stake, along with Italian merchant bank Simest SpA.

NEW GEM: Milan-based private equity Clessidra SGR has agreed to buy a 70 percent stake in luxury jeweler and watchmaker Buccellati Group for 80 million euros, or $102.6 at current exchange. The transaction was signed between Clessidra and the Buccellati family, who retain a minority stake, along with Italian merchant bank Simest SpA.

Following the agreement with Clessidra, Gianmaria Buccellati will be named honorary president, while his son Andrea Buccellati will take on the role of president and will be responsible for style and products.

This story first appeared in the March 29, 2013 issue of WWD.  Subscribe Today.

Buccellati currently counts 15 freestanding stores worldwide, including doors in New York, Chicago, Aspen, Colo., and Beverly Hills.

load comments


Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
blog comments powered by Disqus