Boucheron Acquires High Jewelry Workshop in Paris

Paris—Several months after LVMH took a majority stake in Platinum Invest Group, rival Kering has made a move to bolster its manufacturing capabilities. On Monday, Kering-owned brand Boucheron announced the acquisition of an atelier that specializes in manufacturing high jewelry, all working out of a single facility not far from the brand’s longstanding workshop at 26 Place Vendôme in Paris.

French entrepreneur Cédric Gangemi, a jeweler by training, founded the group, which is comprised of four companies: Blondeau, Belter, Chanson & Cie, and FG Développement.

According to WWD, Gangemi worked at Chanson & Cie (established 1961) and Blondeau (established 1978) before taking them over.

He combined the two workshops under a single roof in 2017, with Belter and FG Développement later joining the atelier.

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Boucheron CEO Hélène Poulit-Duquesne called the acquisition of this high jewelry workshop a “new chapter” in the company’s history, bolstering a segment of the business that parent company Kering recently called out as a strong performer in an otherwise subdued quarter.

“[This acquisition] will reinforce the production capacity of Boucheron’s historical workshop on Place Vendôme, enabling us to meet the increasing demand of our clients while maintaining the excellence of our craftsmanship,” Poulit-Duquesne said.

Together, the four companies employ about 60 artisans, a mix of CAD designers, jewelers, lapidaries, stone setters, and polishers.