Richemont acquires Italy-based Buccellati.

Richemont acquired Italy-based Buccellati, the owner of Buccellati, the renowned Italian jewelry Maison, in a private transaction with Gangtai Group Corporation, a privately held conglomerate, which captures the growth in the consumer, culture, finance, and health industries. Financial terms were not disclosed. "Distinguished by strong heritage, craftsmanship and family spirit, Buccellati is one of the few Maisons in the dynamic branded jewelry market which is complementary to our existing jewelry Maisons, in terms of style, origins and craftsmanship. Buccellati meets the needs of today's customers who are looking for creative jewelry, with a highly distinctive style. We welcome Andrea Buccellati, his family and his team. With them, we share a culture of constant quest for creativity, innovation, quality and excellence. We look forward to ensuring the long term development of this unique jewelry Maison." Johann Rupert, Chairman of Richemont.