OC Oerlikon / Key word(s): Acquisition
Oerlikon Successfully Closed Acquisition of Riri; Takes Leadership Position in Luxury Metalware
Pfaeffikon, Schwyz, Switzerland – March 1, 2023 – Oerlikon has successfully closed the acquisition of Riri, following the signing of the agreement announced on December 16, 2022.
Riri is a leading provider of coated metal accessories for the luxury fashion industry. This deal is the logical strategic next step to complement Oerlikon’s acquisition of Coeurdor in 2021. This acquisition expands Oerlikon’s foothold in the luxury market and together creates a leading platform in luxury metalware. As the demand for PVD coatings grows, Oerlikon’s leading-edge PVD technologies that provide environmentally friendly solutions will accelerate the shift of the luxury goods industry to greener PVD technology.
“The acquisition leverages Oerlikon’s core PVD coating competencies into applications in the luxury market,” said Michael Suess, Executive Chairman. “The combined expertise, cutting-edge technology and luxury market know-how make Oerlikon a market leader in this sector. We look forward to partnering with our luxury brand customers and helping them to become more sustainable.”
Renato Usoni, CEO of Riri, will lead the newly formed luxury business unit of Oerlikon as President Oerlikon Luxury. Riri will operate as a separate business within the Surface Solutions division. Its zippers and buttons will continue to use the Riri and Cobrax brands on individual products.
Oerlikon (SIX: OERL) is a global innovation powerhouse for surface engineering, polymer processing and additive manufacturing. The Group’s solutions and comprehensive services, together with its advanced materials, empower customers by improving and maximizing the performance, function, design and sustainability of customers’ products and manufacturing processes in key industries. Pioneering technology for decades, everything Oerlikon invents and does is guided by its passion to support customers’ goals and foster a sustainable world. Headquartered in Pfaeffikon, Switzerland, the Group operates its business in two Divisions – Surface Solutions and Polymer Processing Solutions. It has a global footprint of more than 12 100 employees at 205 locations in 37 countries and generated sales of CHF 2.9 billion in 2022.
The Riri Group, leader in metal accessories manufacturing, stands out in terms of product range and unique offer, thanks to its five distinctive brands: Riri, a reference point for metal and plastic zippers; Cobrax, well-known producer of press buttons, jeans buttons and rivets; Cobrax Metal Hub and DMC, specialized in the design, development and production of metal components for leathergoods; Amom, a company focused on the accessories sector for footwear and clothing and on fashion jewels. The high quality of its productions, season after season, supported by constant innovation, by an unmistakable personalization of details and by the continuous search for excellence, makes the Riri Group a preferred choice for many influential brands in the fashion, luxury accessory, outdoor and denim industry. A multi-brand strategy and its dedicated production plants in Mendrisio, Padua, Tirano (Sondrio), Poggio a Caiano (Prato), Scarperia and San Piero a Sieve (Florence), Badia al Pino (Arezzo), Pergine Valsugana (Trento) and Palazzolo (Brescia) guarantee sufficient production to meet the multi-faceted style requirements of all customers.
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