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Gismondi 1754 Acquires Vendorafa Lombardi from LVMH | April 04, 2023 (0 comments)
Genoa, Italy--Italian high jeweler, Gismondi 1754, has acquired Italian gold jeweler, Vendorafa Lombardi. Massimo Gismondi, CEO and creative director of Gismondi, made the announcement Tuesday. He acquired the company from LVMH for 608,000 euros. The deal was finalized March 31.
Gismondi, based in the Italian port city of Genoa, produces a predominantly gem focused range of jewels. Massimo Gismondi, in a statement, said the acquisition will provide Gismondi “a leadership role in goldsmithing and artisanal gold collections globally in key markets.”
The Vendorafa design team has already completed the collection for the Couture Jewelry Show in Las Vegas. Massimo Gismondi and his new creative team will have oversight over all designs for the new collections moving forward. Vendorafa also exhibits at the Centurion Show.
Vendorafa was founded in the goldsmith district in Valenza in the province of Alessandria in 1951. The company is known for exceptional handmade wearable art crafted in 18k gold. In 2022, Vendorafa Lombardi was acquired as part of the Pedemonte Group in the gold and jewelry sector controlled by LVMH W&J Jewelry Operations of the Moët Hennessy Louis Vuitton Group.
Valenza is one of Italy’s most productive gold jewelry centers, famous for luxury brands like Bulgari, owned by LVMH. Bulgari announced in January that it would expand its manufacturing plant in Valenza in order to double its production capacity by 2025.
Vendorafa collections boast exceptional artisanal workmanship such as hammering, engraving and embossing techniques combined with the latest in digital technology. In addition to its namesake Vendorafa fine jewelry collections, it has a manufacturing division, Vendorafa Lombardi, which produces jewels for some of the industry’s most influential international brands.
Massimo Gismondi said he has been acquainted with the Vendorafa brand and team for many years. The two companies shared exhibition space at the Couture Show. In a statement Massimo Gismondi said he was impressed with the depth and breadth of their collections, quality, masterful techniques and the uniqueness of their collectable designs.
“Meeting the family I was immediately struck by our shared values, representation of ‘handmade in Italy by Italians, and their reputation of high specialization as leaders of master goldsmithing in the industry,” he said. “With Vendorafa we bring continuity and strength to a legacy brand I respect as well as a key acquisition in our business development plan aimed at strengthening our global presence within the sector.”
Vendorafa Lombardi was part of Pedemonte Group, a jewelry manufacturer with divisions in Italy and France that was formed in 2020 under the Equinox III SLP SIF investment fund. The group combined Vendorafa Lombardi manufacturing with Villa Pedemonte Atelier, a large-scale production specialist. At the time of creation, the two companies reported combined revenue of 41 million euros. In 2022, LVMH acquired the entire group from Equinox for an undisclosed amount.
Gismondi has been a family-owned jewelry company since it was founded in 1754. Massimo Gismondi represents the seventh generation. It specializes in gem-set high jewelry and has several branded boutiques in many cities and resort areas, including Rome, Milan, Portofino St. Moritz, Milan, Prague and St. Petersburg. The company also produces more accessible collections distributed to jewelry retailers.