LVMH acquires majority stake in Repossi

LVMH has acquired fine jewelry brand Repossi. Business of Fashion has reported that LVMH quietly upped its stake in the almost century old Italian jewelry brand to 69 percent, up from 42 percent back in 2015. Since the transaction, LVMH has boosted Repossi's retail presence by opening shop-in-shops in key markets including Dubai, London, and Doha. They also opened a shop at the Peninsula Hotel in Hong Kong.

Currently, Repossi counts flagship stores in Paris and Monte Carlo. In 2007, Gaia Repossi, a fourth generation member of the Repossi family became artistic director of the brand. Under her tenure, the brand's ear cuffs and serti sur vide ring have become some of the top selling items, and they have earned a strong reputation among fashion jewelry lovers.

Luxury jewelry is a tough market for LVMH as that arena is dominated by Richemont, which owns Cartier and Van Cleef & Arpels. The category is a very important one for LVMH as they seek further growth, however.

Luxury jewelry is one of the fastest growing markets for retailers. In a March report from Marketwatch, the market for luxury jewelry was considered one of the fastest-growing markets mostly driven by consumer behavior as well as fashion trends. The significant growth can be projected in the coming years, owing to increasing disposable income and consumer spending on luxury goods. There has been an increase in demand from high net worth consumers, which has helped boost sales of luxury jewelry. In addition, influence from social media is also encouraging people to shop luxury jewelry.

photo: Repossi.com