French luxury group Kering will buy family-owned jewellry producer Raselli Franco Group, it said on Thursday, announcing an initial 115 million euro ($134.76 million) investment into the business.
Kering , the owner of luxury brand Gucci, said on Tuesday it had agreed to sell a 60% stake in a prime New York property to private equity firm Ardian, raising $690 million in cash.
Kering's new CEO Luca De Meo plans to set up a new unit to scout for up-and-coming brands to invest in, documents seen by Reuters show, as he seeks to tap new revenue streams and trim the group's reliance on struggling Gucci.
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