In addition to producing jewels for Tiffany & Co., the workshops will continue to develop products for their existing clients, as well as for other LVMH Group jewelry houses, the statement reads. It adds that a training school developed by the Platinum Invest group will benefit with its connection to the LVMH Institut Des Métiers d’Excellence., which has jewelry operations in Italy and France.
The acquisition is expected to close by the end of the summer and is subject to standard regulatory authorizations. Anthony Ledru, president and CEO of Tiffany & Co., said in the statement that he is confident this acquisition will accelerate the jeweler’s capabilities and propel its exceptional craftsmanship in the jewelry market forward.
“We are delighted to be able to welcome Orest and Abysse into the Tiffany & Co family,” Ledru said. “This acquisition is an important step for our House; it will allow us to reinforce our commitment to the highest level of quality, while expanding our production capacity to meet the growing demand of our clients. We are certain that this acquisition will enable us to pursue our momentum and our ambitions for excellence in the global fine and high jewelry market.
Denis De Becker, president of Orest/Abysse, added: “After years of fruitful collaboration, we are very proud to join the LVMH Group and strengthen our ties with such an iconic House as Tiffany & Co. and, thus, be able to contribute to its growth and development.”
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