Luxury Group Richemont Reshuffles Management of Vhernier Jewelry House

By Andrea Figueras

Swiss jeweler and watchmaker Richemont said it made changes to the management of Italian jewelry house Vhernier following the completion of its acquisition.

The owner of high-end brands including Cartier and Van Cleef & Arpels said Friday that Gianluca Brozzetti will join Vhernier's board of directors as executive vice president and take on the role of interim chief executive.

Brozzetti is the executive vice president of Buccellati, the Italian jewelry brand that is part of Richemont's core division.

The update comes after Richemont in May said it had reached an agreement to buy Vhernier in a private transaction.

Founded in Valenza, Italy, in 1984, the jewelry house was acquired in 2001 by the Traglio family, who will remain involved in the business.

Richemont appointed Vhernier's chief executive, Maurizio Traglio, as chairman of the board of directors. Carlo Traglio, chairman of Vhernier SpA, will take on the role of chairman of Vhernier USA.

Isabella Traglio will remain in her role as head of design and research and development, overseeing the creative direction of the maison.

The changes at Vhernier--which are effective immediately--come months after the Swiss luxury group reshuffled its leadership. In May, it named Nicolas Bos as new chief executive, replacing Jerome Lambert.

In July, the group appointed new chief executives for its heavyweight brands Cartier and Van Cleef & Arpels, which are part of the company's key jewelry division.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

September 13, 2024 04:36 ET (08:36 GMT)

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