In the recently held FY2024 earnings report meeting, Swiss luxury giant Richemont disclosed that its Italian jewelry brand Buccellati has seen its sales increase by 4.5 times since its acquisition in 2019, marking a 3.5-fold growth in less than five years.
This is a significant growth rate for a luxury jewelry brand. Historical data reveals that Buccellati took eight years to double its sales from €27 million in 2010 to €60 million in 2018 before joining Richemont.
The newly released brand research report by Luxe.CO Intelligence, titled The Expansion Path of Buccellati, details how this century-old luxury jewelry brand has accelerated its expansion, increased brand awareness, and strengthened brand positioning through various strategies post-acquisition. This involves product development, retail, communication, and executive leadership.
Buccellati, founded by Mario Buccellati, known as the “Prince of Goldsmiths,” in 1919, has been renowned for its gold lacework. Using a Renaissance-era gold carving technique called “texturing,” Buccellati transforms gold and silver into various textures, creating lace-like effects.
To this day, Buccellati’s creative work remains under family control: from founder Mario to Gianmaria, to the third generation Andrea (current Creative Director), and the fourth generation Lucrezia (current Co-Creative Designer). The brand has never employed external designers for its jewelry.
However, family businesses often require external capital for growth. Before Richemont, Buccellati attempted to expand with external capital twice but without success. It wasn’t until joining Richemont that Buccellati embarked on a steady expansion path.
In 2020, a year after joining Richemont, Buccellati moved its headquarters to Via Brisa in central Milan. Andrea Buccellati, the third-generation family member and current Creative Director, stated, “With the establishment of the new headquarters, we are opening a new chapter for the next century. Under Richemont’s leadership, we will expand globally.”
When acquired by Richemont in 2019, Buccellati had 28 boutiques worldwide. As of March 31, 2024, Buccellati operates 48 boutiques globally, with over 30% of them located in China.
For details on Buccellati’s global boutique expansion since 2019 and the current distribution of boutiques in the Chinese market, see the full report.
Through this Luxe.CO Intelligence research report on Buccellati’s expansion path, you will learn about:
- The four-generation family heritage of Buccellati
- The brand’s four ownership changes and the details of its acquisition by Richemont
- Buccellati’s performance since 2011
- The brand’s product developments over the past five years
- Buccellati’s global retail network expansion over the past five years
- Major brand communication activities over the past five years
- And more…
The main content of the “Buccellati’s Expansion Path” report is about 36 pages long.
Download for Luxe.CO subscribers exclusively.
Click here to download the report(in Chinese).
Report Contents:
About Luxe.CO Intelligence
Luxe.CO Intelligence has been deeply involved in the fashion and luxury sectors for a long time. Leveraging our continuously expanding industry network, data intelligence, and knowledge system, we are committed to providing professional, innovative, and forward-looking consulting services to brands and companies in China and overseas. Our areas of focus include brand revitalization and upgrade strategies, brand content and communication strategies, niche industry positioning and opportunity analysis, and strategies for entering the Chinese market.
View all reports published by Luxe.CO Intelligence: https://luxe.co/page/hlzk
In the past six months, other brand research reports released by Luxe.CO Intelligence include:
“Ferrari: From a ‘Luxury Car’ to A ‘Luxury Brand’
“Tiffany in 2023”
“Dior in 2023”
“Louis Vuitton in 2023”
“Moncler in 2023”
“Gucci in 2023”
“Prada in 2023”
“Chanel in 2023”
“Hermès in 2023”
“On in China”
“Maison Margiela in China”
“lululemon in China”
“CELINE in China”
…
We release multiple original research reports from Luxe.CO Intelligence each month and occasionally hosts industry lectures and forums. For any collaboration inquiries, please feel free to contact us.
Email: lci@luxe.co
