The Italian luxury brand, to be acquired by the Franco-American fund in 2021, is to undergo a capital increase of 15 million euros.
Etro to benefit from welcome cash injection.
L Catterton is to refinance the Milanese fashion house via a capital increase of 15 million euros.
The information, revealed by Milanese daily MF Fashion, has been confirmed by Etro. “The equity-building intervention by shareholder L Catterton, aimed at financing the Group’s significant investments, is aligned with the global relaunch project initiated in December 2021. “said the company.
L Catterton, the investment fund resulting from the merger between L Capital (Lvmh/Arnault Group) and the American fund Catterton, had become Etro’s majority shareholder (60%) in July 2021. The four heirs to the company and children of the brand’s founder, Ippolito, Jacopo, Kean and Veronica Etro, hold the remaining 40%.
Over the past two years, Etro has undergone a major overhaul.
Aggiornamento
The deal valued Etro at around 500 million euros, while its debt (at the end of 2020) stood at around 50 million euros.
For the past two years, Etro has been undergoing a major aggiornamento.
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Featured Photo: © Etro
