Oerlikon, a global innovation powerhouse for surface engineering, polymer processing and additive manufacturing, has signed a definitive agreement to acquire Riri, a highly specialized provider of coated metal accessories for the luxury fashion industry.
Riri, headquartered in Mendrisio, Switzerland, is a market leader in metal accessories manufacturing, that offers a wide product range and unique selection. The company supplies global leading brands in the luxury fashion industry and has a strong foothold in the Italian luxury market. The company employs more than 1,100 people and expects to generate sales of €170 million (CHF165 million) in 2022.
Riri includes under its umbrella five different distinctive brands: Riri, offering metal and plastic zippers; Cobrax, well-known producer of press buttons, jeans buttons and rivets; Cobrax Metal Hub and DMC, specialised in the design, development and production of metal components for leather goods; Amom, a company focused on the accessories sector for footwear and clothing and on fashion jewels.
Headquartered in Pfaeffikon, Switzerland, Oerlikon Group operates its business in two divisions – Surface Solutions and Polymer Processing Solutions. It has a global footprint of more than 12,000 employees at 202 locations in 37 countries and generated sales of CHF 2.65 billion (about €2.68 billion in 2021).
“Riri is highly complementary to our existing luxury business and will reinforce our fashion jewelry and metallic components for leather goods. 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,” said Michael Suess, executive chairman, Oerlikon. “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 to Oerlikon’s strengths in coated metal-based fashion components. Together, we are ideally positioned in Italy and France, the two major European fashion hubs, and can provide a complete offering to fashion customers,” said Renato Usoni, CEO, Riri. “We are excited to join Oerlikon as it will allow us to accelerate the luxury goods industry’s sustainability transition to greener technology by applying technologies such as Oerlikon’s PVD(*)."
(*) Editor’s note: PVD is physical vapor deposition, a thin-film coating solution that is more environmentally friendly than traditional processes such as chrome plating.