Kering is acquiring Raselli Franco Group in a staged deal that values the Valenza-based supplier at about €575 million and begins with a 20 percent purchase for €115 million in early 2026, following earlier announcements of the initial investment.The transaction is Luca de Meo’s first acquisition since he became Kering chief executive in September and covers factories and offices in Paris, the United States, Canada, China and Hong Kong; Raselli was founded in 1969, employs more than 500 people and makes over 300,000 pieces a year while handling the full jewellery value chain.Kering said the move will secure essential production capacity for its jewelry maisons including Boucheron, Pomellato, Dodo and Qeelin, supporting a strategy to reduce exposure to fashion cycles after group sales fell 14 percent to €11 billion in the first nine months even as the jewellery segment delivered double-digit growth, and Andrea Raselli said the deal will reinforce the family business.