Warren Buffet expand his luxury jewellery business
US tycoon, Warren Buffett has completed, earlier this week, the acquisition of three Italian jewellery brands, through its RICHLINE specialized jewellery company. The first one is ERZ, a jewellery company specialized in products for children, the second, 7AR (part of Rosato Group) and third, far.in-ex. The three brands will be integrated under a subsidiary company Richline International srl. While the value of the transation was not disclosed, a company official confirmed that Richline intends to further invest and acquire Italian luxury jewellery companies.
Richline was founded in 2007 and is directly owned by Warren Buffet. The company is specilialized in manufacturing and distributing jewellery and accessories. Other Richline brands include: Andin, Alarama, Aurafin etc.