Switzerland-based Oerlikon, leading powerhouse for surface engineering, polymer processing, and additive manufacturing, has successfully closed the acquisition of Riri, following the signing of the agreement announced on December 16, 2022. Riri is a leading provider of coated metal accessories for the luxury fashion industry. This deal is the logical strategic next step to complement Oerlikon’s acquisition of Coeurdor in 2021.

The acquisition expands Oerlikon’s foothold in the luxury market and together creates a leading platform in luxury metalware. As the demand for PVD coatings grows, Oerlikon’s leading-edge PVD technologies that provide environmentally friendly solutions will accelerate the shift of the luxury goods industry to greener PVD technology, the company said in a press release.

“The acquisition leverages Oerlikon’s core PVD coating competencies into applications in the luxury market,” said Michael Suess, executive chairman. “The combined expertise, cutting-edge technology, and luxury market know-how make Oerlikon a market leader in this sector. We look forward to partnering with our luxury brand customers and helping them to become more sustainable.”

Renato Usoni, CEO of Riri, will lead the newly formed luxury business unit of Oerlikon as president Oerlikon Luxury. Riri will operate as a separate business within the Surface Solutions division. Its zippers and buttons will continue to use the Riri and Cobrax brands on individual products. Oerlikon will consolidate Riri as of March 1, 2023.

Fibre2Fashion News Desk (NB)

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