Zilli, French super-luxury French company is saved thanks to a collection of investors from Italy and the UAE. The group includes Dubai-based investment fund Negma Group (legal HQ in the Virgin Islands and an office in Milan) and Milan-based advisory company FAI (Futuro All’Impresa). Zilli’s core business is in fur and leather coats, and the company has a direct relationship with Italy, where it employs about 80 people located in the production lines of D’Avenia (Milano) and Zilli Shirts (Bergamo). The new owners now plan on relaunching the brand.
Zili is headquartered in Lyon and entered Chapter 11 at the end of September, 2021. The company went from 100 million euro in revenue to 31.5 from 2014 to 2020. As pointed out by Be Beez, the Paris store used to generate 12 million in sales per year, but is now down to “just” 3 because of the pandemic. The Lyon courthouse has decided to judge the Negma/Fai offer favorably, thus approving the change in ownership. Fashion Network claims that the company was bought for 2.4 million euro, with the promise of investing at least 20 million in the next five years. Moreover, the new owners must retain at least 70 of the 100 employees currently present in France in the Dardilly location and the Parisian one, and of the 80 currently in Italy.
An Italian CEO
Giuseppe Di Nuccio will be the new CEO of Zilli and will bear the responsibility of bringing the brand back to its former glory. How? By strengthening current reference markets and then develop the Middle Eastern one, along with Europe and Asia. The plan includes marketing and communication investments to revitalize the brand’s image and acquire new customers.