The centering trend for accessories: Oerlikon buys Riri

The centering trend for accessories: Oerlikon buys Riri

Riri ended up in the hands of Swiss group Oerlikon. The centering trend of the accessories’ segment continues. Just one year ago Swiss company Riri, leader in the production of plastic and metal zippers, had bought Tuscany-based DMC, specialized in the production of leather goods, shoes and luxury apparel. After just 12 months, Riri went from predator to prey.

Oerlikon buys Riri

Oerlikon works in surface engineering, polymers’ creation and the production of additives. Headquartered in Pfaeffikon, Switzerland, the group conducts its activities via two divisionsSurface Solutions and Polymer Processing Solutions. It employs over 12,000 people located in 202 sites in 37 countries. In 2021 it generated a revenue of 2.68 billion euro.

Who is Riri

Riri (located in Mendrisio, Switzerland), produced metal accessories for the fashion and luxury segments, especially Italy’s ones. The company has over 1,100 employees and plans on generating a revenue of 170 million euro in 2022, operating with 5 brands: Riri (metal and plastic zippers), Cobrax (buttons), Amox (metal accessories for shoes), Cobrax Metal Hub and DMC (components for the leather goods segment). It currently has 7 production sites in Italy: Padova, Tirano (Sondrio), Poggio a Caiano (Prato), Scarperia e San Piero (Florence), Badia al Pino (Arezzo) Pergine Valsugana (Trento) and Palazzolo (Brescia).

The goal is leather goods

The operation should be completed by the end of the first quarter of 2023, after having obtained the necessary approvals. “Riri is highly complementary to our luxury activities and will strengthen our fashion and metallic components operations – says Michael Suess, executive president of Oerlikon -. It’s the ideal next step after we acquired Coeurdor in 2021. It will make us leaders and an integrated supplier with a complete offering of luxury metal goods for high-end fashion brands”.

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