Apparel M&A: Pellemoda acquires Second Skin

Apparel M&A: Pellemoda acquires Second Skin

Tuscan company Pellemoda acquires Second Skin (located in Orvieto). “It’s a solution for our lack of workforce”, explained to Il Sole 24 Ore entrepreneur Azzurra Morelli, of Empoli. One thing to keep in mind: Second Skin had been working with Pellemoda for a few years. The former has this strengthened its position by creating a small luxury holding entity. Pellemoda stared as a supplier of leather apparel for luxury brands. But in 2007 with Hostage and 2016 with Ahirain, it increased its offering by adding textile-based items. In May 2019, with the acquisition of Marmi (Pistoia), specialized in weavings and semifinished products for handbags and shoes, it further augmented its offer. Now it takes another step forward.

Pellemoda acquires Second Skin

“We acquired Second Skin for a simple reason: it has 30 additional people that know how to sow leather and shearling goods, thus increasing our production capacity – explained Azzurra Morelli, owner of Pellemoda with her brother Giampaolo, to Il Sole 24 Ore –. The problem for our segment is the lack of skilled labor and it’s only normal to seek solutions”. The company closed 2022 with a revenue of 35 million euro.

Strengthening production

Pellemoda had already been thinking of acquiring other companies since 2019, in order to become more structures and better answer the demands of the marketplace. The luxury one. For a while now third-party manufacturers of brands are internalizing production in order to better control it and end up with a more homogeneous finished product. Every handbag is the same as the one before. “We have a dedicated team that checks external groups that work for us. But today more than ever, the fashion industry needs reliable sub-suppliers – concludes Morelli -. It’s the only way to continue working with large brands”.

Photo from Pellemoda

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