The LVMH Group announced Monday that it will take a minority stake in luxury jewelry brand Repossi. The Italian company is led by Artistic and Creative Director Gaia Repossi, who took the lead at the company her great grandfather founded in 2007, at only 21 years old. Under the direction of her father, Alberto Repossi, the brand opened its only two stores so far in Monte Carlo in 1977 and Paris in 1985. The line is available at about 90 retailers worldwide, including Barneys and Opening Ceremony in the U.S. The size of the investment was not disclosed.
Gaia Repossi is known for her avant-garde design and has collaborated in the past with Alexander Wang and Altuzarra. In a statement released by LVMH, she said the conglomerate's investment "will be important for us to pursue our strategy and develop our distribution network." Repossi also told WWD that the brand will hire a CEO in the coming months.
This isn't the first Italian jewelry brand LVMH has invested in; it most recently acquired Bulgari in 2011 for $3.4 billion. It also owns De Beers, Hublot, Fred, Tag Heuer, Chaumet and Zenith.