Damiani enters the world of design in style, acquiring a majority share of Venini. The merger between the historic Italian jewelry brand and the world’s most famous maker of artistic glass objects was announced this morning by Guido Damiani, president of the group, and Giancarlo Chimento, president and partner of Venini.
“After a long ‘courtship’ on the part of different investors,” the latter explained, “we opted for the proposal of Damiani, with which Venini shares many values: true craftsmanship, a centuries-old tradition of excellence, a profound passion for art.”
Guido Damiani explained how the acquisition is part of the strategy of the family to invest in and develop high-end brands: “We believe that due to its absolute uniqueness, Venini represents great luxury market potential, addressing consumers who want to stand out through the value of beauty. Our project is to provide the brand with the international commercial expertise we have developed in the jewelry sector, reinforcing its presence on emerging and mature markets.”
The Chimento and Tabacchi families, who acquired Venini in 2001, will remain among the shareholders with a quota of 40%, and the Chimento family will continue in its operative managerial role, assisting Damiani in new growth strategies.
One of the first items on the agenda is improvement of distribution channels and stores: the monobrand approach will be joined by the opening of shop-in-shop facilities, as will soon be seen in the Rocca store on Piazza del Duomo in Milan, about to be fully restructured.