(PRESS RELEASE) GENOVA, ITALY — Massimo Gismondi, CEO and creative director, Gismondi 1754 Spa announced that it closed a deal to become the new owner of Vendorafa Lombardi Srl. The company, founded in the goldsmith district in Valenza in the province of Alessandria in 1951, is known for exceptional handmade wearable art crafted in 18k gold. In 2022, Vendorafa Lombardi, was acquired as part of the Pedemonte Group in the gold and jewelry sector controlled by LVMH W&J Jewelry Operations Srl of the Moët Hennessy Louis Vuitton Group. The closing took place on Friday, March 31, 2023 when the agreement was signed for Gismondi 1754 to take over the Vendorafa brand for EUR 608,000 with some additional assets and archives.
Vendorafa collections boast exceptional artisanal workmanship such as hammering, engraving and embossing techniques juxtaposed with the latest in digital technology and made in Italy excellence. In addition to its namesake Vendorafa fine jewelry collections, its highly sought after manufacturing division, Vendorafa Lombardi, has produced for some of the industry’s marquee international brands.
Massimo Gismondi has been acquainted with the Vendorafa brand and team for many years, impressed with the depth and breadth of their collections, quality, masterful techniques and the uniqueness of their collectable designs.
“Meeting the family I was immediately struck by our shared values, representation of ‘handmade in Italy by Italians,’ and their reputation of high specialization as leaders of master goldsmithing in the industry,” said Massimo Gismondi. “With Vendorafa we bring continuity and strength to a legacy brand I respect as well as a key acquisition in our business development plan aimed at strengthening our global presence within the sector,” he continued.
Vendorafa Lombardi was most recently part of Pedemonte Group, a jewelry manufacturer with divisions in Italy and France that was formed in 2020 under the Equinox III SLP SIF investment fund. The group combined Vendorafa Lombardi manufacturing with Villa Pedemonte Atelier, a large-scale production specialist. The alliance between the two presented a long history of successful collaborations manufacturing with top international luxury brands, including various LVMH jewelry divisions. At the time of creation, the two companies reported combined revenue of 41 million euros. In 2022, LVMH acquired the entire group from Equinox for an undisclosed amount.
Gismondi 1754 will begin operations immediately and have a presence with the brand showcasing new collections for Vendorafa at Couture in Las Vegas in June.