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On Sunday, L Catterton, a private equity firm co-founded by French luxury group LVMH, decided to buy a 60% stake in Italian fashion brand Etro.
The deal would value Etro at around €500 million, the sources said, confirming information published by Italian newspapers La Repubblica and Il Sole 24 Ore.
Founded in 1968 by Gerolamo Etro, the Italian fashion house offers a range of women’s and men’s clothing as well as accessories and perfumes. Etro is best known for its iconic “Paisley” pattern, also known as a “Cachemire”.
In a statement, Etro confirmed that L Catterton would take a majority stake in the company, while the Etro family would retain a minority stake, although no further details were given.
In addition, founder Gerolamo’s four children, Ippolito, Jacopo, Kean and Veronica, have announced that they will retain a 40% shareholding, and will also retain ownership of Etro’s real estate and directly operated shops.
“We believe that the collaboration with L Catterton will open a new phase of growth and consolidation of Etro’s role among the most sustainable and prestigious fashion brands,” said Gerolamo Etro, in the statement.
The transaction is expected to be completed in a few months, more precisely by the end of the year, the statement said.
Read also > BAMBUSER JOINS “LA MAISON DES STARTUPS LVMH”
Featured photo : © Etro[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
On Sunday, L Catterton, a private equity firm co-founded by French luxury group LVMH, decided to buy a 60% stake in Italian fashion brand Etro.
The deal would value Etro at around €500 million, the sources said, confirming information published by Italian newspapers La Repubblica and Il Sole 24 Ore.
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On Sunday, L Catterton, a private equity firm co-founded by French luxury group LVMH, decided to buy a 60% stake in Italian fashion brand Etro.
The deal would value Etro at around €500 million, the sources said, confirming information published by Italian newspapers La Repubblica and Il Sole 24 Ore.
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