Chinese Conglomerate Completes Acquisition Of Buccellati

Gangsu Gangtai Holding has completed its acquisition of Italian high jewelry house Buccellati. 

The Chinese conglomerate has acquired an 85% stake in the luxury jeweler, internationally known for its time-honored hand-crafted techniques developed in Italy. The transaction price was based on an equity value of €230 million ($271 million) for 100% of the company.

Gangtai says it plans to both sustain its presence in existing markets—namely Italy, Europe and North America—and to develop in the new markets—such as China, Asia, the Middle East and Eastern Europe—with a five-year investment of €200 million ($236 million) that will fund 88 new Buccellati boutiques.

The deal was first announced in December 2016 and the closing was completed Tuesday at a press conference in Milan. In attendance was Xu Jiangang, founder and chairman of Gangatai Group, Andrea Buccellati, who will maintain his position as creative director, and Gianluca Brozzetti, who will continue as honorary chairman and CEO.

Buccellati, founded in Milan in 1919, is one of the most prestigious jewelers in Italy. It was family owned until 2013 when Clessidra, an Italian investment holding company, acquired a 67 percent stake of the company, with the remaining 33 percent retained by the founding family. 

With the new agreement Clessidra and the Buccellati family will retain the remaining 15 percent stake in the company. In addition, all jewelry making will remain at Buccellati’s headquarters. 

“Our will is to maintain Buccellati’s identity while enhancing all of the elements which make it one of the best known brands worldwide in the fine jewelry sector, including its craftsmanship, design and originality, which are the heritage of Italian jewelry,” Xu Jiangang said. 

“It is the will of the new shareholder,” Andrea Buccellati added, “to preserve the company’s uniqueness, especially its excellence, craftsmanship and quality. In this respect, Gangtai Group’s recommendation to keep the production in Italy represents a solid commitment.”

Gangtai Group is a privately held conglomerate in the consumer, culture, finance and health industries with a capitalization of approximately $3.5 billion and revenues of more than 1.4 billion. Its subsidiary, Gangsu Gangtai Holding (Group) Co. Ltd, is one of largest gold jewelry distributers and a leading internet jewelry retailer in China with more than 1.200 employees, and is focused on growing its presence in international luxury. 

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Bulgari’s High Jewelry Collection Is A Colorful Italian Celebration

Platinum necklace set with a 19-carat cushion Sri Lanka sapphire, 17 South-sea pearls, 82 emerald beads, nine sapphires beads, 40 fancy diamonds and diamond pavé

There are few countries in the world whose people know how to celebrate life like Italy.

The Italian luxury brand, Bulgari, known nearly as much for presenting a lavish lifestyle as for its luxurious jewels, has put together a collection of more than 100 colorful jewels and watches that represents the diversity of Italian celebrations.

Lucia Silvestri, Bulgari Jewelry Creation & Gem Buying director, said the new collection named “Festa” (Italian for party) is inspired by the celebrations held throughout the country. It includes historical and modern-day festivals as well as children and adult celebrations. Some of the jewels are linked to women of Italian royalty known for their outrageous lives, loves and festas.

This horse head brooch is made with 18k white gold with 26 rubies, 24 trapezoidal step diamonds and diamond pavé

“The main inspiration of the Festa collection is happiness. Joy, and sharing that joy with others in a public or private celebration is very much part of the Italian art de vivre,” Silvestri said. “This is something you can find in Rome, in Venice, in Tuscany, in Puglia, everywhere in Italy. The Festa runs deep in our way of life. The theme is closely linked to Bulgari, as one of the purposes of our jewels is to give joy and happiness to the women who wear them.”

This gift wrapped necklace is made of 18k pink gold with yellow green chalcedony, 38 diamonds and diamond pavè

Two pieces in the collection, the Palio necklace and bracelet, refer to the Tuscan city of Siena and its legendary horse race: the Palio, which dates back to the Middle Ages. The race normally takes place twice a year in July and August. The colors of Siena’s 17 contrade (districts), whose riders participate in the race, are included in the two jewels. Silvestri said Bulgari worked for months in close collaboration with city authorities to get the 17 colors of the contrade right. Two necklaces and two pairs of earrings are inspired by two of the 17 contrade: la Pantera and la Lupa. Horses used in the races are present in the form of in diamond, ruby and onyx brooches.

This sweet ice cream treat is a brooch made with 18k pink gold with three buff-top rubies and diamond pavé

The Tarantella—a rapid whirling dance celebration in southern Italian regions of Calabria, Puglia and Sicily—is often performed at weddings and private celebrations. However, there’s an annual festival where people can dance until dawn. A necklace in the form of spiders’ nests; and two sautoirs, a bracelet and a pair of earrings are inspired by the popular folk dance.

Platinum necklace set with a 26-carat round cabochon Colombia emerald, 47 round brilliant cut diamonds, 90 buff top Emeralds, 36 baguette cut diamonds and diamond pavé

Some of the jewels in the collection are designed to bring back childhood memories with the use of gold, enamel, diamonds, tourmalines, turquoises, coral and jade. Bulgari calls them “happy jewels,” which range from sweet desserts to party favors. They include rings that depict pistachio, lemon and raspberry, chocolate and cream cakes. Precious balloon necklaces and earrings made of gold, diamonds and colored gems are also part of the collection.

This platinum necklace is mounted with a 53-carat round Colombia emerald, eight pear shaped diamonds, eight emeralds, 31 pear-shaped diamonds and round diamond pavè

“We have explored new alliances of stones and colors,” Silvestri said. “In some jewels, the green of emeralds is mixed with the blue of sapphires and the pink of spinels.”

Rome, the home of Bulgari, gets special recognition with a number of pieces, including the Monete Secret-Watch pendant is a statement piece. A silver tetradrachm (an Ancient Greek silver coin) depicting the profile of Alexander the Great, the King of Macedonia and Conqueror of the Persian Empire, decorates the front cover of the octagonal pendant—made of pink gold, diamonds and rubies— opens to reveal a skeletonized dial, exposing the in-house tourbillon caliber BVL 208.

18k pink gold necklace set with five pink rubellite tourmalines, four purple double rose amethysts, 83 bead sapphires (31,84 ct) and diamond pavé

Others pieces that reflect the “Eternal City” are a ruby ring that depicts the Piazza Navona; and a 12.10-carat ruby set in the pendant of a necklace surrounded by diamonds. The color represents the official coat of arms of the city.

Platinum ring centered with a 15-carat emerald-cut diamond (D FL) and diamond pavé

More than 30 jewels are dedicated to three Italian princesses: Maria Mancini, Principessa Colonna (1639-1715), Paolina Bonaparte, Principessa Borghese (1780-1825), and Margherita di Savoia, Regina d’Italia (1851-1926). Among the highlights are a sautoir set with a 26.10-carat cabochon emerald, a 41.98-carat bead emerald and 104 South Seas Akoya pearls; a ring and necklace set with a cabochon emerald; and a secret bangle-watch.

Bulgari's new collection brings la dolce vita to high jewelry.

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Italian Jewelry Museum To Debut ‘Dames and Knights’ Exhibition

Colonial Order of the Star of Italy Plaque and Sign of Great Cross. Photo by Martina Pace

By Maria Ling, Jewelry News Network Assistant Editor

The Museo del Gioiello in Vicenza, Italy, will hold a temporary exhibition focusing on jewels presented as honors in Italy, other European countries and even other world regions, a practice that stretched from the Middle Ages to modern times. Titled “Dames and Knights. Jewels of Honors,” it opens to the public Wednesday, March 24 and runs till September 17. An opening reception will be held March 23.

The items are curated to celebrate this artistic genre as a subject worth noting due to its quality, origin and proof of the history of different countries and geographical areas.

Order of the Crown Knight with spade. Photo by Martina Pace 

The temporary exhibition on the ground floor of the jewelry museum is arranged in two sections. The first will display about 40 Knighthood honors and decorations selected from pre-eminent and rare collections around the world. 

In addition, 10 items pay tribute to the collection of former Italian Prime Minister Giovanni Giolitti, which were given to him by royal and government leaders.

Included in the display are honorary decorations that serve as symbols of Italian history. including: the Order of St. Maurice and St. Lazarus, the Insignia of the Grand Cross, the Collar of Our Lady of the Annunciation, the Grand Collar of St. George and the Colonial Order of the Star of Italy's Grand Cross.

Constantinian Order of St. George. Photo by Martina Pace 

A second section dedicated to Dames has about 10 items, including the Legion of Honor's Insignia of Knighthood and Insignia of the Ordo Supremus Militaris Templi Hierosolymitani.

The itinerary takes a visitor on a journey through time and honorary decoration culture with provides explanations of their intrinsic and evocative meanings. It serves as a piece of Italian and European history that recalls a value that was handed down through the years with the aim of rewarding praiseworthy actions in the fields of literature, arts and economy and for commitment in carrying out public duties and activities for social, philanthropic and humanitarian purposes as well as for long-standing and remarkable services in civil and military careers.

Order of the National Merit of Civil Division. Photo by Martina Pace

Insignia, decorations and medals that date back to the 11th century with Knighthood honors bestowed purely on men who highly distinguished themselves, a usage that was extended to women in 1662.

The exhibition will also be presenting about ten creations by G.B. Ballarino, a goldsmith from a company with a long tradition in the field of honorary decorations, authorized to raise the arms of the Royal House of Savoy and the Royal House of Bulgaria with the inscription “fornitore della Real Casa” (Royal House supplier) through gold, enamel and precious stone cross pendants.

Order of Danilo I of Montenegro. Photo by
Martina Pace

The museum, the first in Italy and one of a few in the world dedicated to jewelry, is located inside the Basilica Palladiana and is managed by Italian Exhibition Group S.p.A. (IEG)—the trade show company generated by a merger between Rimini Fiera and Fiera di Vicenza—in partnership with Vicenza Municipal Council.

The museum is the result of IEG’s commitment to promoting the universal culture of Italian gold and jewelry, a sector in which it is well known as a global Business Hub thanks to the VicenzaOro international jewelry trade show.

Royal Order of Cambodia. Photo by Martina Pace

For more information follow this link.

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Versace 2017 Watches Are More Than Just Accessories

Versace V-Extreme Pro 

When Versace expanded into watches in 2004 it brought on the Timex Group Swiss Luxury Division (a division of Timex Group) to design, manufacture and distribute its timepieces with the iconic luxury fashion brand’s codes, such as the Medusa head and the maze-like Greek keys. 

Not surprisingly Versace watches are designed and treated more like accessories than timepieces. That will probably always be the case for a brand like Versace but this year’s new products show more dedication in looking and acting more like timepieces. 

For example, the V-Extreme Pro (above and top photo) with its black dial and sunray guilloché finish has a second time subdial at 9 o’clock and a small seconds subdial at 3 o’clock. The Medusa is in relief at 12 o’clock. The 46mm case is available in bicolor black, ion-plated (IP) gold or ion-plated (IP) bronzed steel. An interchangeable top ring provides a choice of an engraved minute scale or the engraved Versace logo repeated three times. In addition, it’s available in five bicolored versions and comes with either a silicone strap with a hot-pressed logo or a metal bracelet.

Versace is known for its bold color choices. The black and gold colored Daphnis watch is an example of this. Its black dial and black leather strap is enhanced with an IP yellow gold bezel. The main design feature of the 35mm watch is the Greek keys, which are engraved on the gold bezel and run in a north-south row across the dial and along the black leather strap of the black dial model. The yellow gold Medusa head is in relief at 12 o’clock and on the crown. 

There’s also a version of the watch with a beige mother-of-pearl dial and an IP yellow gold bezel and bracelet.

The 36mm Idyia watch is described by Versace as a “play of shapes within shapes.” Set into the round base is a faceted, 10-sided top ring with polished or diamond-studded edges that provide a contrast with the satin-finish surface. A supersized Greek keys stands out against the mother-of-pearl dial with an alternating polished and matte effect. The 3D Medusa is at 12 o’clock.

A standard model is available with polished edges and a bi-colored (steel and IP plated gold) bracelet and a luxury version with diamond-studded edges and an IP gold bracelet. 

Straight from the Versace woman’s Spring/Summer 2017 catwalk, the Palazzo Empire’s bold 3D Medusa Head in the center of the dial is positioned between two watch glasses, embellishing and enhancing the sunray guilloché dial. The bezel is adorned by an enameled Greek keys design in colors that match the calfskin strap. It is available in white, black or pink.

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Independent Jewelry Designers Make Their Mark At VicenzaOro

For the first time in the long history of VicenzaOro, the January edition of the jewelry trade show provided a dedicated space for a dozen international designers. By all accounts it was a welcome and successful addition to the fair.

"Winged Beauty" earrings by Magerit

  
Branded as “The Design Room” and located in the main hall of the large fair, the area was defined by neutral colors and wood tones with each designer’s space being identical. Black chairs and couches lined the edges giving people a reason to linger. The finishing touch was a logo with “The Design Room” name partially enclosed on two sides by a white line to create an open-square shape. 

To fill the space the fair curated a diverse group of 12 designers from different parts of the world. Some already have an international reputation while others are either newer to the industry or have regional followings. All produce innovative designs, a well-defined aesthetic and have the potential to widespread market potential. 

18k rose gold earrings by Sutra with pink spinel, garnets and diamonds

The designers were Netali Nissim, Federica Rettore and Qayten from Italy, Rodney Rayner, Sarah Ho and Zara Simon from the United Kingdom, Nikos Koulis from Greece, Magerit from Spain, Daniela Villegas and Sutra from the USA, Fernando Jorge from Brazil who now lives in London and Elie Top from France. 

Colorful Laguna rings by Rodney Rayner

Rodney Rayner, a veteran award-winning jewelry designer, not only participated in the area but helped to curate the designers. He then worked with the trade fair to convince them to participate. 

“We have exhibited in the past at Vicenza in the main halls, but this new concept got us much more attention,” said Rayner, who specializes in colored gemstone jewelry. “Everyone walking around took the time to look in every showcase. As an example, we personally met a new customer who asked if it was our first time to exhibit at VicenzaOro. I explained that it wasn't but in previous years they had simply walked past my booth. All the designers had a very good reaction from both press and retailers.”

Lily Rose ring by Sarah Ho in 18k white gold with a 3.84 carat pear-shape rubellite center stone surrounded by brilliant and baguette diamonds and emeralds

Sarah Ho didn’t need much convincing and was happy she made the decision to exhibit.

“I love the way all the booths look the same,” said Ho, whose work tells her personal story. “We felt the buyers were generally intrigued by The Design Room and wanted to see what new and exciting products are available. They really spent time looking around.”

For Italian jeweler, Qayten, it was the first time exhibiting at Vicenza for the Bologna-based brand founded in 2012.

Qayten Happy Hours 18k rose gold and diamond earrings

“I liked the idea of sharing a space with different companies and designers from different countries and styles, said Maddalena Allegretti, Qayten marketing and sales manager. “We received the interest of many retailers and press. It definitely was a positive experience and we’d like to do it again.”

The designers were also feted by the fair organizers. They had the opportunity to participate in the Andrea Palladio International Jewellery Awards, which were presented in the auditorium inside Fiera di Vicenza, where VicenzaOro January was held and attended a dinner at a Michelin star restaurant hosted by Matteo Marzotto, executive VP of Italian Exhibition Group, the organizer of VicenzaOro.

Niki Lalioti, marketing and communications manager for jewelry designer Nikos Koulis, models one his earrings at their booth during VicenzaOro. Photo by Anthony DeMarco

One of the award winners was Greek designer Nikos Koulis.

“I believe that the creation of a dedicated space for contemporary designers to showcase their collections is more efficient for buyers, media representatives and visitors since there is a coherent approach while our styles are distinct and complementary,” he said. “The outcome for my brand was positive and we met our goals for this show.”

Parisian jewelry designer, Elie Top, demonstrates one of his spherical jewel creations in his booth during the VicenzaOro trade show

Elie Top is new to fine jewelry but his name is well known in the fashion world, particularly in Paris where he was a designer of costume jewelry for Lanvin for 15 years. He describes his first collection as Mécaniques Célestes, globe-shaped pieces that open, revealing a centerpiece set with pavé diamonds, which he compares to a sparkling sun.

“It was an honor to be chosen and invited to participate,” he said. “It was very interesting to be placed close to other talented designers. The Design Room gave a true overview of jewelry creation for today. All are very différent because they are personal and pretty radical in creative integrity. It gave us the chance for great exposure, meeting journalist from everywhere, and internationals buyers. It is an important and new step in my own story.” 

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Italian Exhibition Group Acquires Arezzo Gold Jewelry Trade Shows

Italian trade fair and government representatives at a press conference in Rome 

The newly formed Italian Exhibition Group (IEG) trade show company expanded its footprint in the Italian jewelry and gold industry by taking over the organization and management of the OroArezzo and Gold Italy trade fairs. The two shows are held at Arezzo Fiere e Congressi in the Tuscany region’s city of Arezzo. It is one of the two major gold jewelry manufacturing centers in Italy. 

With this agreement IEG becomes the trade fair representative for the entire Italian gold and jewelry industry, valued at more than $6 billion, according to an Italian government official. 

The agreement was announced Thursday at a press conference in Rome attended by trade fair representatives and national and regional government officials, including Ivan Scalfarotto, undersecretary for the Ministry of Economic Development; Stefano Ciuoffo, Tuscany Region councilor for production, credit, tourism and commerce; Lorenzo Cagnoni, IEG president; Matteo Marzotto, executive IEG VP; Corrado Facco, IEG managing director; and Andrea Boldi, president of Arezzo Fiere e Congressi.

“The strategic agreement with Arezzo Fiere e Congressi spotlights Italian Exhibition Group's competence as a central, cutting edge trade show player for the jewelry sector on a global scale,” Facco said. “The Italian segment is Europe’s most important, and certainly most qualified, production district in terms of design and technological innovation.” 

IEG was formed in October 2016 with the merger of two Italian trade fair companies, Fiera di Vicenza and Rimini Fiera. IEG said at the time the alliance makes the new entity a “top player in Italy” in terms of directly organized shows with 61 fairs in its portfolio (90 percent own by the trade fair organizations) and 160 other events and congresses. The company also said it was the first example of a merger between trade show enterprises in Italy.

Among Fiera di Vicenza trade shows are VicenzaOro, held three times per year (which includes a trade show in Dubai). It is centered in Vicenza in the Veneto region, the other of the two major gold jewelry manufacturing centers in Italy. 

“Italian Exhibition Group will be managing an overall four events in Italy, one in Dubai, the official presence in the United States and a series of other strategic operations in Asia,” Facco said. “Therefore, IEG’s role as a content provider takes on even greater value, thus consolidating its international leadership in the marketing, communication and production of events linked to business for high range luxury goods.”

The new company’s aggressive stance toward locking up the trade fair sector in Italy for the jewelry industry seems to coincide with its plan to issue an Initial Public Offering as early as this year. The company made this announcement during the recently concluded VicenzaOro January trade fair. 

In addition, officials at the press conference in Rome said it coincides with Italian government initiatives to consolidate the industry in order to better promote internationally the “Made in Italy” quality production merchandise mark (indicating that a product is all planned, manufactured and packed in Italy) throughout the jewelry industry’s supply and production chain.

“This agreement is a decisive step for the development of a segment that is worth over $6 billion in exports. Know-how and organizational abilities are thus being united in order to compete in an increasingly more complex market, where company dimensions and project aims and ambitions make the difference,” Scalfarotto said. “We allocated almost $9 million euros to the gold and jewelry industry last year, providing support to our companies' participation at foreign trade shows and strengthening the biggest events in Italy. For 2017, we will be firmly continuing our efforts. After the plan aimed at the U.S. market, which began in 2016, we will be placing particular focus on Asia and the Middle East.”

IEG noted that despite the consolidation it will continue to promote the trade shows as regional fairs within their territories, “albeit with a considerable view to systematization.” 

“The aim is to strengthen and boost the industry by increasing business opportunities for exhibitors, stimulating the domestic market and favoring the presence of international buyers in order to help companies gain access to strategic jewelry markets,” IEG said in a statement. 

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Chinese Conglomerate Acquires 85% Stake in Buccellati

The Buccellati New York flagship store on Madison Avenue

Clessidra, an Italian private equity firm, and the Buccellati family said Friday that it sold an 85 percent share in Buccellati to Chinese conglomerate, Gangtai Group. 

Clessidra and the Buccellati family will retain a 15 percent stake in Italian high jewelry house. The company is reportedly valued at approximately $282 million. A source close to the deal would not confirm or deny the figure. However, the person did say that revenue in 2015 was approximately $42.8 million, making its valuation 6.6 times its annual revenue.

The new majority owners plan to expand into China and other Asian markets, according to multiple sources. As part of the deal the Buccellati family will retain creative control of the company.

Buccellati, founded in Milan in 1919, is one of the most prestigious jewelers in Italy, known for creating pieces using time-honored hand-crafted techniques. The company has an international presence, particularly in Europe and the United States with branded stores and distribution agreements.

Buccellati was 100 percent family owned until 2013 when Clessidra acquired a 67 percent stake, with the remaining 33 percent retained by the founding family. A year later the company announced a rebranding effort aimed at attracting younger customers. The company named Lucrezia Buccellati, 25-years-old at the time, as its first woman designer and the youngest person to hold that title. Her father, Andrea Buccellati, became president and creative director, later adding the title of chairman. In 2015, the company opened a five-story flagship store in Madison Avenue in New York as well as stores in Paris and Palm Beach.

The Buccellati creative team, Andrea Buccellati and his daughter, Lucrezia

Clessidra, in a statement, noted that since 2013, the family made significant investments to expand its distribution network, support the product offering and strengthen the management structure. Now it says Buccellati is ready to expand into China.

“We are particularly satisfied with the agreement reached with Gangtai Group,” Marco Carotenuto, managing director of Clessidra, said in a statement. “We have strongly supported Buccellati in the last three years achieving a 60 percent growth in revenues since acquisition. We believe that the company is now ready for a new growth cycle that Gangtai Group will support, considering also its experience in the jewelry market and its strong presence in China.”

Gangtai Group—which specializes in the consumer, culture, finance and health industries—has experience in the China jewelry market. Its subsidiary, Gangsu Gangtai Holding (Group) Co. Ltd, is one of largest gold jewelry distributers and a leading internet jewelry retailer in China, and is focused on growing its presence in international luxury, according to the statement. 

Andrea Buccellati will retain his role as creative director and honorary chairman of Buccellati. Gianluca Brozzetti will retain his role as CEO of Buccellati. Other members of the Buccellati family will also retain their involvement in the business, according to the statement.

“Our family founded this company almost 100 years ago and will continue to be fully involved to support its development, the creative mastery and production craftsmanship that enabled the establishment of a unique and recognizable style in jewelry and silverware,” Andrea Buccellati said. "We welcome the commitment of Gangtai Group to invest significant resources to further develop the Buccellati brand and platform.”

Buccellati one-of-kind gold earrings inspired by Odilon Redon's La Chute de Phaéton

Closing of the transaction is expected by the second quarter of 2017 and is subject to Chinese government approval. 

The deal team at Clessidra included Manuel Catalano, managing director, Marco Carotenuto, managing director, and Giulio Torregrossa, investment director. The sellers were advised by Mediobanca, Unicredit and Partners CPA as financial advisors and by law firms Gattai Minoli Agostinelli & Partners and Pedersoli e Associati for the legal aspects. The purchaser was advised by law firm Simmons & Simmons for the legal aspects. 

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Jewelry Fair VicenzaOro Involved In Merger Of Two Italian Companies

Matteo Marzotto, vice president (left), and Lorenzo Cagnoni, president, of the newly formed Italian Exhibition Group

Two Italian trade fair companies, Fiera di Vicenza Spa and Rimini Fiera Spa, have merged to form the Italian Exhibition Group. Fair representatives said Friday that this alliance makes the new entity a “top player in Italy” in terms of directly organized shows with 61 fairs in its portfolio (90% own by the trade fair organizations) and 160 other events and congresses. 

The company also says it is the first example of a merger between trade show enterprises in Italy. 

The new entity will be the promotion and internationalization platform for the entire “Made in Italy” production chain, meaning products will be designed in such a way that it will meet the needs of users in many countries, the companies said in a joint statement. 

Fiera di Vicenza in Italy’s Veneto region serves as the home of VicenzaOro, the Italian jewelry industry’s largest trade fair, held three times per year. It is one of the 61 trade shows the combined organization hosts at three venues in several product categories including Food & Beverage, Green Investment, Technology, Entertainment, Tourism, Transport, Wellness, and Lifestyle & Innovation.

Rimini Fiera Spa, located in the coastal city of Rimini in Italy’s Emilia-Romagna region, has two facilities: Rimini Fiera and Palacongressi Rimini.

There was no mention  in the joint announcement of how the merger will affect individual trade fairs. However, Italian Exhibition Group said there are no changes planned with either the names of the distinct fair venues or their operations.

The new Italian Exhibition Group logo

Perhaps the boldest statement by Italian Exhibition Group is its goal to be a publicly listed company and to act as the unifying element for other trade show organizations.

While the merger is being billed as a coming together of equals, it appears that Rimini will be the dominate player of the two. Lorenzo Cagnoni, president of Rimini Fiera will now serve as president and CEO of Italian Exhibition Group. Matteo Marzotto, president of Fiera di Vicenza, has been named vice president. In addition, the announcement was made in Rimini Friday. 

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Sabina Belli Becomes CEO of Pomellato Group

Sabina Belli, a veteran luxury brands executive, was named CEO of the Pomellato group. Kering Group, the French luxury goods holding company that owns a majority stake in the Italian company, which consists of the luxury jewelry brands Pomellato and Dodo, made the announcement Thursday. 

Belli replaces Andrea Morante who will leave the company by the end of the year “after having completed a harmonious handover period with the new CEO, as planned since the acquisition agreement,” Kering said in a statement. She will report to Albert Bensoussan, CEO of Kering’s Luxury – Watches & Jewellery division.

Belli joined Kering in April 2015 as general manager of the Pomellato brand. “She has a deep knowledge of the luxury sector and of the development of high-end products on an international scale,” Kering said. Previously, she held senior-level positions in the jewelry, wine and spirits, and cosmetics industries. As part of her new role, Kering said she will support Pomellato’s and Dodo’s development and strengthen their positioning globally, Kering said.

“Since she joined, she has demonstrated a deep knowledge of the brands and their organizations. I am confident that her professional background and expertise of the luxury sector will be of great value to the brands’ development,” Bensoussan said in a statement. 

Before joining Pomellato, Belli, an Italian national, was a longtime executive with the LVMH Group where she was most recently brand executive VP of Bulgari. She joined LVMH in 1996 where she was international brand director for the Christian Dior Parfums and image and marketing director for LVMH Moët Hennessy; before working as international brand manager for Veuve Clicquot Ponsardin from 2009 to 2012. She began her career in advertising. 

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