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PPR : PPR : Kering acquires Italian jewellery group Pomellato



        PPR : PPR : Kering acquires Italian jewellery group Pomellato

An innovative and profitable jewellery group with great growth potential

Pomellato and Dodo  brands highly  complementary to  Kering's other  jewellery 
brands

Kering announces the  signing of an  agreement with RA.MO  S.p.A to acquire  a 
majority stake  in the  Pomellato group.  The transaction  is subject  to  the 
approval of the competition authorities and is expected to be finalized in the
coming weeks. Andrea Morante will remain CEO of the company.

Pomellato, whose 2012 revenues reached €146 million, is one of Europe's  major 
jewellery groups, with a strong international position. The company's  success 
is based on the personality and unmistakeable style of its creations unique in
their blend of colours, stones and extraordinary shapes as well as their  fine 
craftsmanship. The  Pomellato  group  is  a  profitable  and  growing  Italian 
business with two brands, Pomellato and Dodo, the first positioned within  the 
fine jewellery segment and the latter within the accessible jewellery segment.
Its distribution network includes 86 mono-brand stores (45 Pomellato, 41 Dodo)
as well as approximately 600 independent points of sale around the world.

With this acquisition, Kering  is extending and  reinforcing its portfolio  of 
luxury brands in the high growth jewellery market. The Pomellato group  enjoys 
significant growth  potential  and Kering  will  support the  development  and 
international expansion of its  two brands. The group  will also benefit  from 
Kering's expertise and  resources in real  estate, distribution, media,  brand 
management, etc.

François-Henri Pinault,  Chairman and  CEO of  Kering, commented:  "Synonymous 
with Italian  style, Pomellato  and Dodo  rank among  the most  beautiful  and 
innovative jewellery brands in the world. I am delighted that they are joining
our portfolio of  luxury brands.  We have  great ambitions  for the  Pomellato 
group, which, with access to our expertise and know-how, will be able to  step 
up the pace of its growth and expand its geographic footprint while preserving
the values that underpin its Italian identity."

Andrea Morante, CEO  of Pomellato,  commented: "Becoming global  brands is  no 
longer an  option  for  Pomellato and  Dodo;  it  is a  necessity.  With  this 
consideration in  mind,  we have  undertaken  a  lengthy review  of  our  best 
strategic alternatives and reached the conclusion that joining Kering was  far 
and away the most favourable course  of action. First, we will instantly  join 
one of the most prestigious groups in the world; second, we will have a unique
opportunity to preserve and enhance the Pomellato and Dodo success stories  on 
a global scale."

About the Pomellato group and its brands

With revenues of €146 million in 2012 and steady growth since 2009,  Pomellato 
ranks 4^th in the European jewellery market,  and is one of the prime  players 
in the sector at an international  level. Thanks to an intensive programme  of 
opening directly operated stores, Pomellato  is currently present in the  main 
capital cities of  Europe, the Middle  East, Asia and  the United States.  The 
company operates 86 Pomellato and Dodo mono-brand boutiques, along with highly
selective distribution  in approximately  600 jewellery  stores. With  a  lean 
structure and a headcount of 585 people, the company sustains a rate of growth
in keeping with its highly manual production capacity.

Synonymous with  creativity  and  character  in  the  international  jewellery 
market, Pomellato was established in Milan in 1967, thanks to the intuition of
its founder, Pino Rabolini, who was  the first to introduce the  prêt-à-porter 
philosophy into  the  world  of  jewellery, giving  the  brand  a  strong  and 
distinctive identity. This  enabled Pomellato  to rapidly gain  ground on  the 
Italian market, and subsequently in the rest of the world. Pomellato creations
are immediately recognisable and  have built a  consistent, iconic style  over 
time. Jewels are crafted by the  expert hands of 100 goldsmiths,  transforming 
the spirit  of the  brand  into gold:  Pomellato,  with its  innovative  stone 
cutting and  setting  methods,  volumes  and  colours;  Pom  Pom,  a  high-end 
collection  of  unique   pieces  designed   around  stones   that  are   truly 
one-of-a-kind; Pomellato 67 - which has  just made its debut -  reinterpreting 
the maison's codes  in solid silver.  Dodo is a  successful brand launched  in 
1995, relying on a unique concept:  it's the first jewel that "talks",  adding 
the value of words and feelings to its charms.

About Kering*
A world leader  in apparel  and accessories,  Kering develops  an ensemble  of 
powerful Luxury and  Sport &  Lifestyle brands: Gucci,  Bottega Veneta,  Saint 
Laurent, Alexander  McQueen,  Balenciaga,  Brioni,  Christopher  Kane,  Stella 
McCartney, Sergio  Rossi,  Boucheron, Girard-Perregaux,  JeanRichard,  Qeelin, 
Puma, Volcom, Cobra, Electric and Tretorn. By 'empowering imagination' in  the 
fullest sense, Kering encourages its brands  to reach their potential, in  the 
most sustainable manner.
Present in  more than  120 countries,  the Group  generated revenues  of  €9.7 
billion in 2012  and had  33,000 employees  at year  end. The  PPR (in  future 
Kering) share is listed on Euronext Paris (FR 0000121485, PRTP.PA, PPFP).
* PPR will become Kering, subject to approval at the Annual General Meeting on
18 June 2013.

Kering press contacts
Hélène      Saint-Raymond                +33      (0)1      45      64      61 
20                              helene.saint-raymond@kering.com
Claudia  Mora                             +39  02  88  005 550                 
claudia.mora@kering.com

Pomellato press contacts
Danila  Sabella                           +39  329   2171590                   
D.Sabella@barabino.it
Marina  Riva                              +39  347   2975426                   
M.Riva@barabino.it
Sonia  Benigni                           +39   348   5269616                   
sbenigni@pomellato.it

Kering analyst/investor contacts
Alexandre  de  Brettes                               +   33  (0)1  45  64   61 
49             alexandre.debrettes@kering.com
Edouard  Crowley                      +  33  (0)1  45  64  63   28             
edouard.crowley@kering.com

Websites: www.kering.com
                 www.pomellato.com

PRKering_PomellatoAcquisition_24April2013

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Source: PPR via Thomson Reuters ONE
HUG#1695660
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