L Catterton to amass majority stake in Italian vogue home Etro


Italian luxurious vogue home Etro has entered right into a binding settlement to companion with consumer-focused non-public fairness agency L Catterton. Underneath the phrases of the settlement, L Catterton Europe will purchase a majority stake in Etro, whereas the Etro household will retain a major minority. Its founder Gerolamo Etro will probably be appointed as chairman of the corporate.

The transaction is predicted to shut by the tip of the 12 months. The phrases of the transaction haven’t been disclosed.

The partnership will permit Etro to reinforce its digital presence and drive international growth, with a give attention to the numerous alternative in Asia, the 2 entities mentioned in a joint press launch.

Based in Milan in 1968 as a textile firm, Etro is extensively identified for its iconic paisley motif and daring patterns impressed by journey, and has a wealthy heritage of decoding iconic aesthetic magnificence on valuable materials with a particular Italian footprint by way of each model and craftsmanship.

For almost 55 years, the Etro household has owned the corporate and established its distinctive, family-driven model DNA, which has resulted in notable buyer recognition. With a powerful distribution footprint globally, Etro has a presence in roughly 140 retail shops in high-end buying areas and is a notable fixture amongst most of the most prestigious luxurious department shops and e-retailers throughout the globe.

By leveraging L Catterton’s deep funding experience, class data, client insights and strategic relationships with LVMH, Etro will probably be poised for vital development to turn into one of many main high-end manufacturers throughout product classes.

With a monitor report of over 30 years of partnering with luxurious and vogue manufacturers throughout the globe, L Catterton will assist Etro in enhancing its model technique to develop its buyer base and attain the youthful generations of customers by persevering with to interpret its model in new, fashionable methods, whereas increasing into new classes and additional enhancing its Italian roots.

“After almost 55 years below our stewardship, we consider that along with L Catterton, Etro can enter its subsequent chapter of development and solidify its place as one of many nice, lasting luxurious homes. We’re thrilled to work with L Catterton’s workforce as they bring about their intensive data of the style class, together with a confirmed monitor report of supporting the worldwide growth of distinctive manufacturers, permitting Etro to succeed in new heights,” mentioned Etro founder and chairman Gerolamo Etro.

“We’re honoured to welcome such a revered and iconic vogue model into the L Catterton household and are delighted to companion with the Etro household for the subsequent part of the Firm’s evolution,” mentioned Luigi Feola, managing companion, head of Europe at L Catterton.

Rothschild & Co, PwC TLS, Pedersoli Studio Legale and Studio Guasti – Studio Legale Associato suggested Etro on the deal, whereas Bain & Firm, PwC Offers, PwC TLS and LMCR / Studio Legale suggested L Catterton.

Fibre2Fashion Information Desk (KD)

Italian luxurious vogue home Etro has entered right into a binding settlement to companion with consumer-focused non-public fairness agency L Catterton. Underneath the phrases of the settlement, L Catterton Europe will purchase a majority stake in Etro, whereas the Etro household will retain a major minority. Its founder Gerolamo Etro will probably be appointed as chairman of the corporate.

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