JEWELLER BUCCELLATI TO BE TAKEN OVER BY CHINESE CONGLOMERATE
High end jeweller Buccellati is to be taken over by the Gansu Gangtai Group, one of the leading players in the Chinese jewellery industry and which for some time has been looking for an historic brand to include in its portfolio.
Private equity firm, Clessidra, recently acquired by the Pesenti family’s Italmobiliare, and the Buccellati family have sold their 85% majority equity stake to the Asian company. Andrea Buccellati will remain creative director and honorary chairman of the company and Gianluca Brozzetti will continue to lead the company as CEO. The Gantai Group, a diversified private conglomerate, whose subsidiary Gansu Holding is a leading distributor and China’s main online jewellery retailer, appears to be focused on increasing its presence in the international luxury goods market. Andrea Buccellati commented “Our family founded this company almost 100 years ago and will continue to be fully involved to support its development. We welcome the commitment of Gangtai Group to invest significant resources to further develop the Buccellati brand and platform.