Pomellato Acquires Minority Stake in Italian Goldsmith

RAPAPORT... Kering-owned jewelry brand Pomellato has established a long-term equity partnership with an Italian goldsmith company that will help improve its manufacturing capabilities.The minority interest in Valenza-based Costanzo & Rizzetto will provide Pomellato with additional productive capability and will allow the company to grow faster, the jeweler said Wednesday. It will also enable the luxury jewelry brand to learn Costanzo's expert crafting methods, it explained."This is an important milestone in Pomellato's development," said Pomellato CEO Sabina Belli. "Together we will embark on a very exciting journey where our combined expertise and future cross-fertilization will bring our jewelry making one step further."Pomellato did not disclose the financial details of the deal.Image: The fabrication of a Pomellato ring. (Pomellato)