Italian high jeweler Gismondi 1754 has spent EUR 608,000 ($658,283) to buy gold artisan jeweler Vendorafa from LVMH.
The deal was finalized March 31, Massimo Gismondi, the buyer’s CEO and creative director, said last week.
The acquisition will give the company “a leadership role in goldsmithing and artisanal gold collections globally in key markets,” said Gismondi, whose Genoa-based brand produces gem-focused jewels.
The Vendorafa design team has completed its latest collection for the Couture Jewelry Show in Las Vegas, which will take place in June. Gismondi and his creative team will have oversight over all designs for the gold jeweler’s new collections.
Vendorafa was founded in the goldsmith district in Valenza in the Italian province of Alessandria in 1951. In addition to its namesake Vendorafa fine-jewelry collections, the company has a separate manufacturing division, Vendorafa Lombardi, which produces jewels for international luxury brands.
Vendorafa was part of the Pedemonte Group, a collection of jewelry manufacturers in Italy and France that was formed in 2020 under the Equinox III SLP SIF investment fund. In November 2022, LVMH W&J Jewelry Operations acquired the Pedemonte Group from Equinox for an undisclosed amount.
While Gismondi bought the Vendorafa jewelry brand, LVMH still owns Vendorafa Lombardi, which will remain in of the Pedemonte Group, according to a spokesperson associated with the sale.
Gismondi has been a family-owned jewelry company since its founding in 1754. Massimo Gismondi represents the seventh generation.
Image: A Torre ring by Vendorafa. (Gismondi)