August is rarely a news-filled month for the fashion industry, but this year it’s different. While a first shake-up was provided by Kering (on July 27th), which paid 1.7 billion euro for 30% of Valentino, August 10th was also an impressive day. Tapestry decided to resolve Capri Holdings’ competition with a simple approach: by acquiring...
The financial statements of the two groups that made the news cycle for their merger was – to put it lightly -, shadowy for the April to June period. Tapestry did worse than forecasted, while Capri Holdings published numbers better than expected by analysts, but still below those of the buyer. Weighing down both entities […]
Asia and handbags. These will be the first targets of Gianvito Rossi‘s expansion under the new ownership of Richemont. The conglomerate confirmed “that it has acquired a controlling stake” in the Romagna-based shoemaker. The eponymous founder will retain a stake in the company and continue to develop the brand. The announcement confirms rumours that Richemont,...
Francesca Bellettini, Jacopo Venturini, and Robert Eggs, are allegedly all candidates in line to become Gucci’s news CEO. Chanel’s ex-manager Maureen Chiquet could end up substitute Francesca Bellettini for Saint Laurent. These are the forecasts prepared by financial analysts for the period following Bizzarri. These same analysts though, are debating the reasons behind the growth...
His tenure as president of the LHCA, the amalgamation of LIA (the US tanners’ association) and USHSLA (the traders’ association), is coming to an end. In his more than ten years at the top of the US leather industry, Stephen Sothmann (pictured) has seen the sector experience exciting moments, such as during the boom in...
French shoe manufacturer Clergerie is getting American. Titan Footwear, a subsidiary of the US group Titan Industries, is the saviour of the transalpine brand that went into receivership last March. Titan will retain 45% of the workforce (60 of the 134 employees). Crisis and (potential) revival Founded in 1981 by Robert Clergerie, the brand was...
The trend that plays a watershed role is athleisure. For better or worse, it is it who influences not only the footwear market, but also handbag purchases. Especially in the United States, as a recent survey by Circana, a company formed by the merger of IRI (Information Resources Inc) and The NPD Group, explains. Who...
No, the message is not “small is still beautiful”. Rather, Roberto Costa, head of global luxury and fashion investment banking at Citi, wants to make it clear that there is no single way to grow. Even in the current market scenario, a fashion SME can believe in a development path to be followed independently. To […]
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, […]
San Quirico holding acquired 75% of Minerva Hub. The remaining 25% will be retained by Xenox and other investors. Matteo Marzotto will maintain his position as president of the group that deals in finishings and materials for luxury accessories. San Quirico is owned by the Garrone and Mondini families, shareholders of oil conglomerate ERG. “This operation […]
“These mergers and aggregation operations are good for the entire sector and for the Italian System”. That what Matteo Marzotto (in the photo Imagoeconomica) says, explaining to La Conceria why Minerva Hub, the group of which he is the president, has passed under the control of San Quirico. And what will be the next strategies...
Aeffe has decided to shake up Moschino. After creative director Jeremy Scott’s departure, the brand is now also dealing with the departure of general manager Stefano Secchi. “The operational continuity will be entrusted to counsellor Goffredo Palmerini”, said the owner of the brand. Moreover, after 40 years of service, Michelle Stein will leave his role as president […]
One must look towards the East with confidence. Because on the other hand, only winds of (possible) crisis are blowing from banks, which are failing or at risk of failing. The end of the Zero Covid policy in China brings with it hope for business, not only for the high-end biggies, but above all, Mario […]
“Parallel convergences”, one might say, quoting Aldo Moro. On different assumptions and with different objectives, Prada and Richemont are working on dual listing. The first group, which has already publicly declared its objective, has not yet resolved the bureaucratic complexities of the dual listing in Hong Kong and Milan. The latter, recently embroiled in rumours...
In Los Angeles, in an unusually non-fashion week date, on the evening of March 10 (not coincidentally on the eve of the Oscars) we saw the Versace that will be. Donatella presented the FW 23/24 collection at the Pacific Design Center (West Hollywood), showcasing a “strong woman” who wears alligator-print leather coats or combines elegant […]
Brazilian group Arezzo bought Italian brand Paris Texas and, says the former, it will soon buy a footwear manufacturer in Tuscany. Alexandre Birman, CEO of Arezzo & Co, revealed his love for Italy began in 1993, after which he frequented all Lineapelle’s editions in the last years. “I am proud to be Brazilian, but I would...
LVMH may not acquire Richemont or Cartier. But it will surely buy back its shares from the market. The group’s leader, Bernard Arnault, is betting that the price of LVMH’s shares will increase. The luxury giant at the center of “Swiss” rumors saying that it wishes to buy Cartier or even the entire group that […]
We could title it “The sale of Richemont”. And it would be a succesful best-selling series of books, because for years now financial sources have rumored the sale of the Swiss multinational. Rumors that, in the end, were always discredited. The latest one comes from Siss press and claims that LVMH is the buyer. The...
3 players are in the run to acquire Cadicagroup. After a few fell out of the running, the funds that remain are Argand Partners, Paladin Capital and Chequers, as they appear to be the most serious when it comes to acquiring the Carpi-based (near Modena) group specialized in accessories and tags for the fashion industry. The seller is...
Experts are sure that even during 2023 M&A activities will continue on the strong trend. And Italy, fundamental country for the fashion industry, will once again be a main actor in the various plays. Mergermania, the current trend of M&A operations on all levels of the chain, requires two main clarifications. The first is tied […]
