Alsace-based Orest, which specializes in the manufacture of fine jewelry, was acquired this summer by Lvmh. Today, it announces the creation of a third factory, in Saint-Dié les Vosges, which will eventually employ 800 people. This will meet the growing needs of its American subsidiary Tiffany.
What is the link between Tiffany, the American jewelry institution, and Orest, the Alsatian high jewelry manufacturer?
Lvmh, which acquired both, the former in 2021 and the latter this summer.
Last April, the world’s number one luxury goods group announced its intention to acquire a majority stake in the Platinum Invest group, which brings together Orest and Abysse, two leading French jewelry producers.
Haute Joaillerie, a buoyant segment
While, in the opinion of Denis de Becker, Orest’s CEO, the global jewelry market is “relatively stable” at around “400 billion euros a year”, the Haute Joaillerie market is more dynamic. According to Orest, “luxury groups are achieving 10 to 15% growth in the fine jewelry segment”.
Its development in a buoyant sector, and now its entry into the fold of the world’s leading luxury goods group, should give the Alsatian group confidence in the future.
Orest has just announced a €7.5 million investment in “a brand-new factory in Saint Dié-des-Vosges”, which should eventually employ no less than 800 people!
Another promising project for Orest: together with its colleague and neighbor in Saint-Dié, Aurigane Créations, it has announced the financing of a jewelry CAP in the town for the start of the 2023 academic year. The aim is to meet the growing need for human resources. Aurigane Créations, itself a specialist in custom-made jewelry for the luxury sector, plans to exceed the “100-employee mark” by 2023.
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