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Milan, Italy--Luxury goods holdings company, Richemont Group, completed the acquisition of Italian contemporary high jewelry brand, Vhernier, September 13, and immediately made changes to the company’s leadership structure. Gianluca Brozzetti, executive VP of Buccellati, joins Vhernier’s board of directors as executive VP and as ad interim CEO until a permanent CEO is named. Brozzetti, in a statement said one of the goals is to focus on expanding Vhernier’s boutique network.

In a statement, Richemont says that the Traglio family, who acquired Vhernier in 2001, will remain involved in the business and continue to contribute to its growth. Maurizio Traglio, CEO, is appointed as chairman of the Board of Directors of Vhernier S.p.A. and Carlo Traglio, chairman of Vhernier S.p.A., takes the role of chairman of Vhernier USA LLC. Isabella Traglio remains in her role of head of Design and R&D, leading the creative direction of the jewelry brand.

The changes are effective immediately.

Richemont in May said it reached an agreement to acquire 100% of Italian jewelry brand Vhernier. The terms of the deal were not disclosed.

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