Oerlikon, headquartered in Pfäffikon, Switzerland, is to acquire Riri, a leading provider of coated metal accessories for the luxury fashion industry. The transaction, which diversifies Oerlikon’s Surface Solutions portfolio and adds market access, is expected to close in the first quarter 2023, subject to regulatory approvals and standard closing conditions.

“Riri is highly complementary to our existing luxury business and will reinforce our fashion jewellery and metallic components for leather goods,” said Michael Suess, Oerlikon executive chairman. “It is the ideal next step after our acquisition of Coeurdor in 2021 and will make us a market leader and an integrated provider with a complete offering of coated luxury metalware for high-end fashion brands. The acquisition will drive cross-selling and strengthen our footprint in the global luxury metalware market, which sees mid-to-high single-digit growth rates annually.”

“Our portfolio, particularly in zippers and buttons, is an excellent fit with Oerlikon’s strengths in coated metal-based fashion components,” added Riri CEO Renato Usoni. “Together, we are ideally positioned in Italy and France – the two major European fashion hubs – and can provide a complete offering to fashion customers.”

Riri, headquartered in Mendrisio, Switzerland, is a market leader in metal accessories manufacturing, with a wide product range. The company supplies leading brands in the luxury fashion industry and has a strong foothold in the Italian luxury market. With 1,100 employees, it anticipates sales of around €170 million in 2022.

www.oerlikon.com