NHN Commerce acquires majority stake in Italian fashion firm Ikonic

11 Jul '23

1 min read

Lee Yoon-sik, CEO of NHN Commerce (left), Maurizio Coltorti, founder of Ikonic (centre), and Riccardo Bilancioni, CEO of Ikonic (right). Pic: Coltorti/LinkedIn

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Korean distributor of brands in the fashion sector NHN Commerce has secured a 77.8 per cent stake in Italian fashion platform, Ikonic Srl, a multi-fashion platform under Coltorti.
The deal involves a €10 million increase in Ikonic's share capital.
Maurizio Coltorti will remain a director and partner of Ikonic, while Riccardo Bilancioni will take over as CEO.

NHN Commerce, a global distributor of brands in the fashion and beauty sector in Korea, has finalised a deal to acquire a majority stake in Ikonic Srl, a leading Italian multi-brand fashion platform operating under the brand Coltorti. The deal, which includes a €10 million increase in Ikonic's share capital, signifies the start of a new chapter for both entities.

Under the agreement, NHN Commerce now holds a controlling 77.8 per cent stake in Ikonic, Coltorti said in a LinkedIn post.

Maurizio Coltorti will continue to play a significant role in Ikonic as a director and partner. Furthermore, the company announced a key leadership change, with Riccardo Bilancioni assuming the role of chief executive officer. Bilancioni previously held the position of managing director at the company.

Fibre2Fashion News Desk (DP)

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