LVMH Moët Hennessy Louis Vuitton has a new acquisition in process to help in its quest to supercharge high jewelry sales.
The Platinum Invest group is a holding company of five workshops across the Grand Est region in France that includes the companies Orest and Abysse. In 2018, Orest was able to expand with strategic investment from Andera Partners and BpiFrance — and renamed itself Platinum Invest. The group acquired Abysse in 2022.
The Platinum Invest group employs more than 800 artisans that will help Tiffany speed its high and fine jewelry pipelines. While Tiffany will add artisans in France, a spokesperson said that the jeweler’s existing workshops in Pelham, New York, and Cumberland, Rhode Island, will remain in operation and this acquisition is only meant to add that production framework. Tiffany’s high and fine jewelry design studios will continue to be based in New York City.
“We are delighted to be able to welcome Orest and Abysse into the Tiffany & Co. family,” said Tiffany chief executive officer Anthony Ledru. “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.
“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. We will be keen to put our skills and technologies at the service of its products to design unique and durable jewelry,” said Denis De Becker, president for Orest and Abysse.
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