Kering to buy jewellry producer Raselli Franco

PARIS, ‌Dec 18 - French luxury ‍group ‌Kering will buy family-owned jewellry producer ⁠Raselli ‌Franco Group, it said on Thursday, announcing an initial 115 million ⁠euro ($134.76 million) investment into the business. 

The ​20% stake will be ‌further expanded to ⁠full ownership by 2032, Kering said in a statement. 

The ​acquisition, the first made by the highly-indebted luxury group under new Chief Executive Luca ​De ‍Meo, highlights the ​group's efforts to expand into categories less exposed to the business cycles of the fashion industry. 

De Meo said the ⁠move would secure "critical manufacturing capabilities" and accelerate ​growth in the jewellery segment, where Kering owns brands including Boucheron and ‌Pomellato.  

($1 = 0.8534 euros)

(reporting by Tassilo Hummel, Editing by Dominique Vidalon)