The Damiani group acquires 100% stake of the top retailer Floris Coroneo

Art. 223

Following the acquisition of the historical Zimmitti jewelers in Syracuse last September and of a minority stake in LuisaViaRoma, through Florence srl in October, the DAMIANI Group announces a new take over in November. The Group has completed the acquisition of a 100% stake in the Floris Coroneo jewelers. Founded in 1954, this top Italian retailer distributes high-end timepieces, including Rolex, Patek Philippe, Cartier, Breguet, Bulgari, I.W.C., Jaeger-LeCoultre, Lange & Söhne, Panerai, Piaget and Vacheron Costantin, through its Cagliari and Porto Cervo stores. The selling shareholders, who have known the Damiani family for years, will continue to work with the DAMIANI Group which was supported in this strategic operation by the law and tax firm Biscozzi, Nobili and Piazza, and Floris Coroneo by Studio Perseu.

ROCCA is the only Italian luxury jewelry and watch chain present in Italy’s most exclusive shopping streets and in its leading cities and international airports. Moreover, its strong growth goals, both organic and otherwise, see it vying to become a true consolidator within its sector.

 

“We are extremely pleased to have finalised this strategic transaction, which on the one hand will support the growth of such an important company in our industry, and on the other will help to strengthen and expand the leadership of ROCCA and all our Brands at the national and international level.”

Giorgio Grassi Damiani

Vice President of the DAMIANI Group

 

“I am extremely proud of this acquisition. Given the complex changes currently underway, local small- and medium-sized companies will find it increasingly difficult to face the new and evolving economic, financial and social scenario. We have chosen the Damiani family, whom we have known and appreciated for decades, to ensure business continuity for our company which was established in 1954 by our parents. Being supported by a large, independent and financially stable group driven by a family with outstanding expertise will make our company much stronger and more competitive, to the benefit of all stakeholders.”

Ernesto Coroneo

 

“Our goal is to strengthen and consolidate our position as an independent Group in this sector. This is why we invest in strategic operations with other industry players, whether they are Brands, Retailers or first-rate Manufacturers. We are certain that, with the support of the DAMIANI Group – an international and professionally managed business retaining, however, a human dimension through the personal, direct involvement of our family – such partnerships will give many small-to-medium sized companies the opportunity to face the coming changes in our sector.”

Guido Grassi Damiani

President of the DAMIANI Group

 

The DAMIANI Group supports its partners by placing its experience and organisation at the service of retailers, brands and first-rate manufacturers, with the aim of growing together. Italy’s industrial fabric is rich in small- and medium-sized companies that are still owned by their founding family but that, following the economic and cultural changes already underway in recent years and now accelerated by the pandemic, need to work out the best way forward in order to remain competitive on the market.

The DAMIANI Group is Italy’s largest independent concern in the luxury jewelry and watchmaking sector to be managed to this day by the original founder’s family. This key element is a considerable strong point for business development as it makes for an empathic relationship with the many small- and medium-sized businesses in the industry and facilitates understanding and a sense of sharing in the challenges that these companies have to face in order to remain competitive on the market. This is further confirmed by the fact that Damiani is one of the very few international jewelry brands to distribute its collections not only through its network of prestigious flagship Boutiques, but also through select prestigious retailers.

Despite the considerable difficulties that many companies experienced last year, the DAMIANI Group has never stopped planning its expansion. On the one hand, DAMIANI and SALVINI have strengthened their presence, particularly in Asia, by opening new sales outlets and implementing innovative new communication strategies aimed at increasing their brand awareness. On the other, during this same period, ROCCA became a Category Partner of Milan’s Rinascente department stores for the distribution of high-end jewelry and watches, as well as opening a prestigious Boutique in Switzerland, in Lugano’s highly central Via Nassa. Instead, in the coming months, it plans to reopen the renovated Boutique in Bologna and to inaugurate a Boutique at Milan’s Linate airport and a flagship Rolex store in Milan’s prestigious Galleria Vittorio Emanuele II.

In addition to DAMIANI, the high-end jewelry brand regarded worldwide as an icon of Italy’s outstanding know-how, the DAMIANI Group, with its centenary history and authoritativeness in the luxury sector, promotes Italian excellence through the synergistic blend of complementary brands and companies, established or acquired over the course of its history: SALVINI, a leading brand in contemporary jewelry; BLISS, which targets a younger audience; CALDERONI, a historical Milanese high-end jewelry brand founded in 1840, now a Business Unit of the Damiani Group mainly dedicated to the sale of loose natural diamonds; ROCCA, Italy’s only chain of high-end jewelry and timepieces, founded in 1794; and finally VENINI, a Murano-based glassmaker whose artistic glassware is on display in leading museums worldwide.

December 22 2021