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FSI invests in luxury brand Missoni
18
Jun '18
Courtesy: .Missoni
Courtesy: .Missoni
Private equity firm FSI has announced the acquisition of a minority stake from the luxury brand Missoni. The investment will mainly consist of a capital increase, with no financial leverage on Missoni. At closing, the Missoni Family will maintain a controlling interest of 58.8 per cent in the company, while the remaining 41.2 per cent will be held by FSI.

The objective of the partnership is to enhance Missoni’s outstanding awareness and development potential, in order to become a modern and global player, with an adequate organisational structure and size to compete in the global fashion and luxury industry.

The company’s growth plan will focus on international expansion, product range extension and the strengthening of the retail channel, mainly in key markets. The seven-member board of directors will include Angela Missoni, as Chairman, Luca Missoni and Giacomo Missoni, as Board members. Rosita Missoni will continue as honorary chairman of the company. Michele Norsa, industrial partner of FSI and former CEO of Salvatore Ferragamo and Valentino Fashion Group, will be appointed vice-chairman.

"The three generations of the Missoni Family, led by Rosita, are pleased to be entering into this agreement with FSI, a prestigious and patient Italian investor with an international network. It is especially auspicious that this partnership is forged on the year of our 65th anniversary, a time to celebrate our history. I am proud that Missoni will be entering into this new chapter, safeguarding both our family unity and our brand DNA. I am confident that with the support of FSI and the strategic vision of the incoming vice-chairman, Michele Norsa, we will be able to lead this precious family jewel into a bright future," Angela Missoni, creative director, said.

"The investment in Missoni is an extraordinary opportunity to support the growth of this unique Italian brand into a global leader," said Maurizio Tamagnini, CEO of FSI. "The Missoni Family has impressed us for their passion, creative energy and timeless loyalty to the brand. We are honored to have been chosen by them in this prestigious partnership." (RR)

Fibre2Fashion News Desk – India


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