Gismondi 1754, a Genoese company listed on Euronext Growth Milan which produces top-of-the-range jewellery, took over the Vendorafa brand (together with some of the company’s assets) from Lombardi Srl, a company founded in Valenza (Alessandria) in 1951 which operates in the jewelery and jewelery and controlled by Lvmh W&J Jewelry Operations of the Lvmh group.
The operation, closed on 31 March, has a total value of 608 thousand euros. Vendorafa Lombardi was born as a jeweler with its own brand and, over the years, has also started the design and creation of exclusive lines for major international brands, in the heart of the most important Italian gold district, that of Valencia. The Vendorafa brand, although integrated into the Gismondi 1754 group, will maintain its own identity, brand and commercial positioning on the market, completing its offer: if the Vendorafa products are designed for more everyday use, the Gismondi 1754 collections belong to luxury . On the market, therefore, the two brands will continue to represent their own, different image and clientele independently, but sharing the important production and commercial synergies.
The operation has a strong strategic value for the Gismondi 1754 Group as, in addition to acquiring the total inheritance of the Valencian brand – the designs, the historical collections, the stock of some iconic jewels and the production machinery – it will also carry forward the Vendorafa’s wide and recognized international presence, with particular reference to the USA and Japan.
As far as the United States is concerned, the Valencian brand is present both in 30 qualified retailers, both in chains such as Saks and Neiman Marcus, and in independent jewelers that sell luxury brands, including Brigham, Louis Anthony, Diamond Genesis, A. Marek, Louis Anthony. In Japan, Vendorafa is distributed by Unoaerre Japan, and this represents an opportunity for immediate development also for Gismondi 1754, which does not yet have a widespread presence in that market.
«This operation has a double meaning in the growth path of our group, which combines the industrial and commercial vision that we have in mind and on which to lay the foundations of our development – commented Massimo Gismondi, CEO of Gismondi 1754 -. This represents the first of a series of acquisitions, between now and the medium term, aimed at strengthening the group’s presence in the sector. An operation that also brings with it the sentiment and will to safeguard and give strength to SMEs, which are the true guardians of Made in Italy that the whole world envies us. With Vendorafa we give continuity and strength to an international brand; I was immediately struck by the common roots in our motto “handmade in Italy by Italians” which distinguishes us and with which we enhance Italian craftsmanship and high specialization in the goldsmith sector. We are really proud to keep the essence of a brand like Vendorafa alive and to bring it into our group, which for seven generations has represented and defended the ethics, tradition and quality of manufacturing in our country».