Vertical M&A: OTB buys leather goods maker Frassineti from Him Group

Vertical M&A: OTB buys leather goods maker Frassineti from Him group

OTB buys leather goods maker Frassineti. The Tuscan company, strategic supplier of Jil Sander, was previously owned by Gruppo Him Co. It’s the last acquisition of the luxury group, which is focusing on strengthening its supply chain. Frassineti has about 70 employs and manufactures 70,000 handbags a year. OTB took over the majority of shares, writes WWD, via its subsidiary  Staff International. The financial details of the operations aren’t known. The founding family (Frassineti) will retain minority ownership of the company, while Gaia Frassineti will continue to cover the role of CEO.

A unique chain

“Our luxury brands share a strong focus on craftsmanship and the use of high-quality raw materials, all made possible by companies such as Frassineti, that contribute to make the Italian fashion segment unique around the world”, said to WWD Renzo Rosso, owner of OTB. Rosso also showcased how “these companies make up the strength of our county, and they are what we need to continue investing in”.

OTB buys leather goods maker Frassineti

Founded in 1976, Staff International is the manufacturing arm of OTB. It curates the production of some of the brands in OTB’s portfolio, such as Maison Margiela and the footwear, handbags and small leather goods’ collections of Marni and Diesel. It also manufactures for OTB’s foreign brands. The web of suppliers of Staff international count more than 800 companies in Italy. Staff International took over the majority of Frassineti, which was owned by Him Co.

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