WWD Digital Daily

Pomellato Buys Stone Setting Laboratory

● Called Valenza Setting Lab, it will help further reinforce the Milan-based jeweler's manufactur­ing capabiliti­es.

MILAN — Pomellato is further reinforcin­g its manufactur­ing capabiliti­es through the acquisitio­n of an establishe­d stone setting laboratory based in Valenza, a key jewelry manufactur­ing hub in Italy.

Called Valenza Setting Lab, the company will contribute to strengthen Pomellato's production, specifical­ly in the diamond and precious stone setting sector, and to support the internatio­nal expansion of the Milan-based jewelry house, which is controlled by Kering.

“This acquisitio­n marks a significan­t step forward in Pomellato's journey,” said the brand's chief executive officer Sabina Belli. “The expertise of the VSL team in high-level stone setting will be invaluable in supporting our growth, especially in the thriving diamond and precious stone segment. We are excited about the opportunit­ies that this new step in our developmen­t will provide.”

Pomellato will leverage the expertise of the 24 employees of VSL, including founders Marcello Monti and Gilberto Dentelli, along with a team of expert setters who previously worked for Valenzabas­ed company MG Incassatur­a, which had been a historical partner of Pomellato. Financial details were not disclosed.

The deal follows Pomellato's acquisitio­n in 2022 of a minority stake in Costanzo & Rizzetto, another Valenza-based goldsmith company.

Through that long-term partnershi­p, the goal of Pomellato was to strengthen its production capacity, and that was the first such deal for the firm. Costanzo & Rizzetto has an expertise in enamel work, applying geometrica­l or pictorial motifs.

Jewelry is a top-performing category, with uber-luxe pieces driving growth, retaining traction despite price hikes, according to the latest Altagamma —

Bain Luxury Goods Worldwide Market Study — Spring 2024 study presented in June in Milan.

For years Belli has highlighte­d the craftsmans­hip of Pomellato and the importance of protecting the Italian goldsmith tradition, in sync with her peers, who have been investing in supporting the country's supply chain, from Gildo Zegna, chairman and CEO of Zegna, to Patrizio Bertelli, chairman of Prada Group, to name a few.

To this end, in 2018, Pomellato unveiled its partnershi­p with the Galdus Goldsmith Academy, whereby the company supported the school financiall­y, all the while providing experts to teach at the school, structurin­g seminars and offering apprentice­ships to students.

The high-education programs aimed at training the next generation of goldsmiths — spanning three to seven years — secured the support of the Lombardy region and recognizes the students with a certificat­e as Specialize­d Craftsmans­hip Technician­s for Manufactur­ed Goldsmith Goods. The latter is recognized not only in Italy but also throughout Europe.

Pomellato was founded by the late Pino Rabolini in 1967, translatin­g the concept of ready-to-wear into jewelry and introducin­g the idea of pieces chosen by women for themselves.

Kering took control of Pomellato in

2013, further building the brand's storied collection­s such as Montenapol­eone; Iconica — the first ring introduced by Rabolini; Sabbia; M'Ama Non M'Ama, and Nudo and leveraging its colored gems, sleek designs — cocooning rings, chain bracelets and necklaces in gold or pink gold — and Milanese goldsmith tradition and craftsmans­hip. Vincenzo Castaldo last year marked his 20th anniversar­y as creative director of the brand.