The DAMIANI Group announces the acquisition of the majority of the Bruno Maria Zimmitti jewellery: well-known Italian retailer, founded in Syracuse in 1858, that distributes within its stores prestigious brands of watchmaking and jewelry of High Range including Damiani, Salvini, Rolex and Bulgari. Thanks to the relationship of trust between the Damiani family and the Zimmitti family, the agreement provides that the shareholders of Bruno Maria Zimmitti 1858 will remain operational within the joint venture and Salvatore Zimmitti will be reconfirmed CEO.
This acquisition is part of a strategic plan to strengthen and expand the leadership of Rocca 1794 on the national and international level. In Italy, in fact, the industrial fabric is rich in small and medium-sized companies which are still owned by the founding families but which, as a result of economic and cultural changes already underway for years, and now accelerated by the pandemic, must choose the best way to continue to be competitive in the market. The goal of the DAMIANI Group is to be able to help by making a common front and putting its experience and organization at the service of these companies in the sector (be they retailers, brands or producers) with the ambition of growing together.
Despite the numerous difficulties that hit many companies in the sector last year, ROCCA 1794 has not stopped its plans to expand and consolidate its leadership: the luxury chain owned by the Damiani Group, has become Category Partner of the Rinascente of Milan for the distribution of jewels and watches of High Range, has inaugurated a prestigious boutique in the central Via Nassa in Lugano and in the coming months, are expected to reopen (after a restructuring) of the Bologna boutique, a Rolex flagship boutique in the prestigious Galleria Vittorio Emanuele II and a boutique at the Milan Linate airport, as well as a series of new openings and acquisitions.
The DAMIANI Group is the largest independent group in Italy in the sector of jewelry and luxury watch still managed by the family: this key element is a great strength for business development because it makes the relationship with the numerous small-medium-sized family companies in the sector empathetic and more understandable but also sharable the challenges that these realities have to face in order to be competitive in the market.
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