Stroili Evanescence collection

PARIS — French jewelry retail chain Thom Europe is to acquire German jewelry chain Oro Vivo from Christian Bernard Group for an undisclosed sum, consolidating its position as the European leader in the affordable jewelry segment.

Also on Friday, Thom Europe said it had finalized the purchase of Italian jewelry chain Stroili, announced in July. “These transactions will allow Thom Europe to become the consolidation platform of the three largest, but still fragmented, affordable jewelry markets in Europe,” it said.

The new entity will have pro forma sales of more than 620 million euros, or $684 million at current exchange rates, with close to 1,000 points of sale under its six banners — Histoire d’Or, Marc Orian, TrésOr, Stroili Oro, Franco Gioielli and Oro Vivo — and e-commerce sites in France, Italy, Germany and Belgium.

The group is set to benefit from substantial scale-related synergies, particularly in purchasing and logistics and in the rollout of the e-commerce platform, Thom Europe said.

“Strengthened by its new position as European leader, Thom Europe will continue to develop the identity of its brands and expand in a growing European market, in shopping malls, city centers and online. After France, the aim is also to become Europe’s key player in e-commerce, a booming jewelry distribution channel that is catching up on online presence in other specialist retail segments,” it said.

The German chain counts 38 points of sale and posted sales of 18 million euros, or $20 million, in 2015. All dollar rates are calculated at average exchange rates for the period concerned.

“After consolidating the French market, the group is now the natural consolidator for the entire European market. Alongside France, Italy and Germany are the largest affordable jewelry markets in Europe,” said Romain Peninque, chief executive officer of Thom Europe.

Guillaume Teboul, ceo of Oro Vivo, added: “It is a great opportunity for Oro Vivo to join the Thom Europe group and participate in its European expansion. Our brand will be able to rely on the unique platform developed by the Thom Europe teams to optimize our product offering and roll out our ambitious growth plan in Germany.”

In the 12 months ended June 30, Thom Europe generated total in-store sales of 391 million euros, or $434 million. Bridgepoint is Thom Europe’s majority shareholder, alongside Apax Partners, Altamir, Qualium Investissement and management.

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