Eric Belmonte
Executive Chairman
Romain Peninque

THOM Europe is a leading jewellery retailer in Europe. The group operates in France, Italy, and Belgium, through a network of company-owned stores, located both in shopping malls and in city centers. THOM Europe operates three chains: Histoire d’Or and Marc Orian, offering mid-range generalist jewellery, and TrésOr, offering “everyday low price” jewellery.


Sector: Consumer Investment date: 2010 Apax position: Minority Activity: MidMarket
Why did we invest?

THOM Europe is a leader in a stable, high-margin and fragmented market, in which scale provides a key competitive advantage. Its retail concepts, found in prime locations, stand out from competition and are supported by best-in-class operations.

Its outstanding, proven and highly-committed management team has a strong market knowledge.

How do we intend to create value?

THOM Europe shows significant growth potential via new openings in both shopping centres and city centres, development of e-commerce and international expansion.


For financial year ending on 30 September 2016 proforma, THOM Europe’s revenue reached €630m, up +67% compared to 2015 mainly due to the acquisitions of Stroili, #1 jewelery retailer in Italy and Oro Vivo, #3 jewelery retailer in Germany, the opening of 34 new stores in France and Benelux, and the ramp-up of its e-commerce site.

  • 42% of pro-forma revenue are made internationally compared to 3% at acquisition in 2010.
  • The group has significantly expanded internationally to become the #1 jewelery retailer in Europe with c. 1,000 stores across France, Italy, Germany, Belgium and the Netherlands.
  • Several acquisitions completed across Europe since acquisition in 2010.
  • France: 31 stores of the Piery retail chain as well as several small family jewellery retail groups.
  • Italy: Stroili, the #1 jewellery retailer in Italy as well as 2 independent jewellery retail chains.
  • Germany: Oro Vivo, the #3 jewellery retail chain in Germany.
  • Great success of Histoire d’Or’s new e-commerce site.
  • Sales continue to grow robustly, driven by a multi-channel strategy founded on the e-commerce site and its boutiques.


For financial year ending on 30 September, 2015, THOM Europe’s revenues were €378m, up 7% on 2014. Sales performance was driven by positive like-for-like sales, the opening of 22 new stores over the last twelve months and the ramp-up of its e-commerce site.