Wedoany.com Report-Dec.19, French luxury group Kering announced on Thursday that it will acquire a stake in the family-owned Italian jewellery producer Raselli Franco Group, with an initial investment of 115 million euros ($134.76 million).

The transaction involves purchasing a 20% stake, which Kering plans to increase progressively to full ownership by 2032, according to the company's statement.

This marks the first acquisition under the leadership of new Chief Executive Luca De Meo for the highly-indebted group. The move reflects Kering's strategy to strengthen its presence in product categories that are less affected by fluctuations in the fashion sector.

De Meo stated that the investment would secure "critical manufacturing capabilities" and accelerate growth in the jewellery division, which includes established brands such as Boucheron and Pomellato.

Raselli Franco Group specializes in high-end jewellery production and will contribute valuable expertise to Kering's portfolio. The partnership aims to enhance the group's vertical integration and support long-term development in the jewellery market.