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LVMH Acquires French Jewellery Group To Strengthen Tiffany’s Manufacturing Capabilities


French luxury conglomerate LVMH has come into an agreement to acquire a majority stake in Platinum Invest Group, a French jewellery manufacturing company, to supplement and enhance Tiffany’s existing manufacturing and production.


The agreement was made with investment companies, Andera Partners, Bpifrance, and with other shareholders, according to a joint statement on 10 April 2023. Platinum Invest Group consists of two jewellery manufacturers: Orest and Abysse. The deal should be final before the end of the summer of 2023 and is subject to regulatory approval, LVMH said.


Founded in 1963, Orest makes jewellery at two factories in eastern France. In 2018, private-equity firm Andera Partners and investment bank Bpifrance injected funds into the company, leading to the creation of parent company Platinum Invest Group. In 2022, that entity acquired Abysse. 


The Platinum Invest Group currently has a network of five workshops located in the eastern French region of Grand Est and has expertise across the entire manufacturing value chain, according to the statement. It employs nearly 800 artisans and collaborators in France. According to LVMH, these teams will give life to exceptional jewellery designs from the Tiffany design studio in New York City.


The acquisition is also consistent with LVMHs stated goal of transforming the American company Tiffany into a pop culture brand. It is the newest of several rebranding efforts in recent years that moved the luxury jeweller from a company that specialised in American craftsmanship to an international brand.


Anthony Ledru, president and CEO of Tiffany said: “We are delighted to be able to welcome Orest and Abysse into the Tiffany & Co family. This acquisition is an important step for our house; it will allow us to reinforce our commitment to the highest level of quality, while expanding our production capacity to meet the growing demand of our clients. We are certain that this acquisition will enable us to pursue our momentum and our ambitions for excellence in the global fine and high jewellery market.”


This acquisition follows LVMHs 2022 acquisition of the Pedemonte Group which has jewellery operations in Italy and France. In addition, luxury brand, Bulgari, owned by LVMH, announced in January that it would expand its manufacturing plant in Valenza, Italy, in order to double its production capacity by 2025.





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