Missoni brings Missoni Home in-house with the addition of T&J Vestor
Missoni wants to regain momentum with its home line. With support from the Italian fund FSI (Fondo Strategico Italiano), which acquired a 41.2% stake in June 2018, the Italian brand is internalizing production and reinforcing itself. Missoni announced “a 100% acquisition of T&J Vestor’s operational activity,” gaining control over the Italian home textile brand that had licensed Missoni Home since 1983.
No details have been given regarding the price of the transaction. However, the acquisition is still within the family business, in a manner of speaking, as T&J Vestor was founded in 1921 by Rosita Missoni's family branch. Formerly Rosita Jelmini, she founded the eponymous clothing brand with her husband, Ottavio Missoni, while T&J Vestor now managed by her brother, Alberto Jelmini.
In fact, T&J Vestor is situated north of Milan in Golasecca, not far from the fashion label’s headquarters in Sumirago. Rosita Missoni will continue to supervise the home collections, as the creative director of Missoni Home.
“The Missoni group’s integration of T&J Vestor will allow the home collection to develop further, especially towards hospitality and interior design projects. We intend to offer a complete collection, spanning from linens to upholstery, including wallpaper, rugs, carpets, armchairs and sofas," the brand said in a statement.
“The Missoni Home license is a business worth approximately €20 million. We want to strengthen this sector internationally and are working on an apartment project in Miami, named Missoni Baia,” Michele Norsa told FashionNetwork.com. Norsa was appointed vice-president of Missoni after FSI acquired its stake in the label.
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