Fine jewellery brand Vhernier and Roberto Coin Inc, which imports and distributes the Roberto Coin brand in North and Central America, have been fully acquired by luxury conglomerate Richemont and UK-headquartered retailer Watches of Switzerland Group (WOSG), respectively.

Richemont secured 100 per cent of Vhernier in a private transaction. Headquartered in Milan, Vhernier produces modern, bold and sculptural jewellery by hand in Valenza, where it was founded in 1984. Its jewellery is sold through a network of mono-brand boutiques and multi-brand stores in Europe and the US. Vhernier also operates Italian heritage silverware home décor brand De Vecchi Milano 1935.

Richemont Chairman Johann Rupert said, "Maison Vhernier brings a distinguished and distinctive design that beautifully blends modern, sleek and elegant shapes with unconventional materials, magnified by exceptional craftsmanship. This unique aesthetic perfectly complements our existing collection of renowned jewellery Maisons."

For its part, the Watches of Switzerland Group PLC (WOSG) acquired Roberto Coin Inc for US$130 million from Roberto Coin SpA, Pilar Coin and Roberto Coin Inc Co-Founder and President Peter Webster.

Founded in Vicenza, Roberto Coin SpA designs and manufactures handcrafted jewellery embedded with a ruby under Roberto Coin brand. It is the sixth largest jewellery brand in the US by sales at retail value.

Roberto Coin Inc has exclusive rights to import and distribute Roberto Coin jewellery throughout the US, Canada, Caribbean and Central America. The company sells to major department stores, jewellery chains and independent jewellers in more than 400 points of sale. The brand is currently available in 16 WOSG showrooms in the US.

According to WOSG, the acquisition enables it to enhance its strategic positioning in the luxury branded jewellery category in the US, leveraging its operational and retailing expertise to grow the Roberto Coin Inc business.

WOSG plans to expand the wholesale network with independent retailers and grow the export market outside of the US. It also intends to increase direct-to-consumer business by expanding point-of-sales in its showrooms, opening mono-brand boutiques and franchise stores, and developing the online proposition, among others.

The Coin family retains a seat on the board and Peter Webster remains as president of Roberto Coin Inc, reporting to WOSG Deputy CEO and President for North America David Hurley.

Roberto Coin Inc achieved annual revenue of US$146.2 million and profit before taxation of US$30.1 million for the audited financial year ended December 31, 2022. 

Roberto Coin, founder and CEO of his eponymous brand, said: "We are delighted to have partnered with the Watches of Switzerland Group, who have a real understanding and appreciation of our unique, world-class brand and products, and can accelerate our retail strategy in North and Central America. We look forward to benefitting from their wealth of luxury retail and digital experience to unleash the growth potential of the Roberto Coin brand across our chosen markets."