PPR, which will soon officially change its name to Kering, has acquired Italian jewelry company Pomellato.

FORBES: Kering Acquires Italian Jewelry Company Pomellato

With this acquisition, Kering said it is extending and reinforcing its portfolio of luxury brands in the high growth jewelry market.

FORBES: Kering Acquires Italian Jewelry Company Pomellato

Kering will hold a majority stake in the Pomellato group and its CEO, Andrea Morante, will remain in this position with the company.

FORBES: Kering Acquires Italian Jewelry Company Pomellato

There is plenty of room for growth for this company and Kering said its expertise and resources in real estate, distribution, media and brand management will help in that area.

FORBES: Kering Acquires Italian Jewelry Company Pomellato

With this consideration in mind, we have undertaken a lengthy review of our best strategic alternatives and reached the conclusion that joining Kering was far and away the most favorable course of action.

FORBES: Kering Acquires Italian Jewelry Company Pomellato

The Peggy Guggenheim Collection houses a first-class collection of 20th-century art from Dali to Duchamp in a beautiful white palazzo on the Grand Canal, and the Punta della Dogana, a contemporary art centre at the tip of Dorsoduro, contains the modern art collection of Francois Pinault, the CEO of Kering, which owns labels like Gucci and Saint Laurent.

BBC: Living in: Venice