PPR eyeing Pomellato in £302m takeover

Pomellato-rings.jpg

Luxury group rumoured to be frontrunner in Italian brand acquisition.

Luxury goods group PPR – the owner of Boucheron – is reportedly in the running to acquire Italian jewellery brand Pomellato.

PPR is rumoured to be close to sealing the takeover, valuing Pomellato at $455 million (£302m), or 15 times the company’s earnings before EBITDA, states Reuters. The two companies are said to have been in talks for more than a year.

Pomellato is reportedly "considering strategic options" for its future, despite a past statement that it wished to remain an independent jewellery brand. The brand has also said it wishes to float its shares on the stock market in 2014.

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Pomellato’s Italian sales total almost 60% of its global sales. The brand has 56 owned and operated stores worldwide and 500 retail partners.

The brand states on its site: "At the moment Pomellato, in addition to strengthening its presence in the US market, is implementing a targeted expansion strategy on three international markets: UK, China and Japan.

"Growth will gain momentum, for Pomellato, through the opening of [directly operated store], and for DoDo, through flagship stores and a sound network of franchisees."

The brand operates its own boutique on Brook Street in London, close to Stephen Webster, and has a concession space in Selfridges on Oxford Street. Its sister brand DoDo, which specialises in animal and character charm jewellery, runs a standalone store on London’s Sloan Square.
 

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