Turkish conglomerate Rams Global, Mathias Facchini, CEO of Italian fashion group Swinger International, and Giulio Gallazzi, CEO of SRI Group, are acquiring approximately one-third of the fashion and lifestyle brand’s capital, with L Catterton remaining the majority shareholder. The transaction includes a capital increase that will give new momentum to Etro, which is going through a difficult period.
New shareholders come to the rescue of Etro.
According to a press release published on December 19, the founding family of the Italian fashion and lifestyle brand is selling its minority stake, representing just under a third of the capital, to a group of investors.
The group consists of the Turkish conglomerate Rams Global, Mathias Facchini, CEO of the Italian fashion group Swinger International, and Giulio Gallazzi, CEO of SRI Group, which invests in SMEs and is also one of the main shareholders of the Banca del Fucino group.
L Catterton remains majority shareholder
L Catterton, the Franco-American private equity firm backed by LVMH, which acquired a stake in Etro in 2021, will remain the majority shareholder. It will “continue to actively support the brand’s long-term growth strategy,” according to the press release.
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Featured photo: © Etro
