The German part of media giant Condé Nast has invested in online luxury jeweller RenéSim as part of its “international diversification strategy”.
Condé Nast was already a shareholder in the online jewellery store since 2011, but has now increased its stake in the business to 46 percent.
Further financial terms of the deal were not disclosed.
RenéSim is an exclusive online jeweller with no shop premises or intermediate dealers. The most remarkable thing about the e-commerce company is that its founder represents the fifth generation of his family in the jewellery business.
You could say he’s carrying on the family tradition online, in other words.
The business was started in Germany but was expanded to France and the United Kingdom in 2012.
Moritz von Laffert, Managing Director of Condé Nast Germany and VP of Condé Nast International, argues that the investment fits the premium publisher’s strategy perfectly:
“With its philosophy of unconditional quality and exclusivity and its discerning customer profile, RenéSim is perfectly suited to Condé Nast and our investment strategy.
We specifically target young, innovative businesses where we can contribute actively to a sustainable increase in value and which, as new business models, can provide meaningful additions to our media portfolio.”
In Germany, Condé Nast’s portfolio includes VOGUE, GLAMOUR and WIRED.
Image credit: Thinkstock
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