Missoni appoints Rothschild Bank to evaluate potential sale
By Eva Morletto21 novembre 2023
Missoni is preparing for the future and attracting luxury groups for a possible acquisition of the brand. With positive financial results (+10%), the fashion house is exploring selling options with Rothschild Bank. The possibility of remaining independent is also discussed by the founding family, which still holds 59% of the capital.
Missoni, the Italian fashion house founded by former athlete Ottavio Missoni and his wife Rosita Jelmini in 1953, is at the center of sale rumors. Known for its colorful patterns and knitwear, the brand is still mostly owned by the founding family, which holds 59% of the capital. Its unique identity has attracted interest from major luxury groups. Missoni remains discreet about the identity of potential buyers, but the company has appointed Rothschild Bank as a financial advisor to explore a possible sale.
The Italian investment fund FSI (Fondo Strategico Italiano), which holds the remaining shares, had strengthened Missoni's capital with a 70 million euro investment five years ago. Currently, no sale has been finalized, but a financial evaluation is underway to consider the best conditions for a potential sale. Livio Proli, the CEO of Missoni, views integration into a large group positively. During an online event held a month ago, the manager listed the advantages of such a possibility, specifying that the house, "alone or with the resources and synergies of a large group, must remain very focused on its specific know-how."
Financially, Missoni has shown strong results despite inflation and geopolitical instability, with sales expected to reach 125 million euros for the current year, up 10% from the 115 million achieved in 2022, which generated a profit of 5 million euros. Last year, the Italian company appointed Filippo Grazioli (formerly of Givenchy) as creative director, while Alberto Caliri, former creative director, now leads the Home Collection and oversees the Missoni Sport line.
During the sale of 41% of the capital shares to FSI, Missoni had virtually no debt. The 70 million euro injection was used to boost a more efficient marketing strategy in retail, expand into the online market, and develop the Chinese market, initiatives that have proven successful.
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