Warren Buffett Will Buy Italian Jewelry Brand

According to Reuters, Richline International, part of Warren Buffett’s Berkshire Hathaway, is going to buy the fifth Italian Jewelry brand to further enlarge its Italian market.

Based in Italy, Richline International is fully owned by Berkshire’s unit Richline Group, a US jewelry manufacturing and distributing company. The company claimed that it had already signed a letter of intent to purchase the production, design, intellectual rights and distribution of Carniani, but Richline did not disclose the details of the deal.

Warren Buffett

Founded in 2007, Richline Group now owns many popular jewelry brand such as Andin, Alarama, Aurafin, Auragem, Bel-Oro, etc.Earlier this year, Richline Group has acquired four other Italian jewelry brand, including children’s jewelry maker Erz, earring and bracelets maker Farinex, 7AR and Zeno.

Dennis Ulrich, CEO of Richline Group, said that the company would still look for other acquisition opportunities in the Italian jewelry market after purchasing Carniani. He said that Richline would be interested in small artisanal jewelry makers and industrial companies as long as they are able to produce creative products with high quality.

According to Ulrich, Richline Group made $500 million total sales last year. By purchasing Italian jewelry brands and setting up Richline International as the hub for further expansion into the market, Richline will go beyond traditional North American market and largely increase its sales in Italy, France, Germany, Britain, Australia and Hong Kong. He expected Carniani to double the sales in one year and the whole Richline International to increase its business by 50% through the new acquisitions and internal growth.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!