US-based publisher Condé Nast has reportedly made its first corporate venturing deal in Europe by backing Germany-based online jeweler RenéSim.
Condé Nast said it had owned 20% of RenéSim since 2011 but had increased its stake to 46%.
RenéSim was launched in 2010 by Georg Schmidt-Sailer and Maximilian Hemmerle, according to news provider Women’s Wear Daily.
Hemmerle’s grandfather René Sim Lacaze designed jewelry for Van Cleef & Arpels, Cartier and private clients, such as the Duchess of Windsor, in the early 20th century. And his father, Franz Hemmerle, who currently designs RenéSim’s range with his son Maximilian, ran Munich’s jewelry store Hemmerle for 33 years.