Dolomite sold to US company
A historical player in the Italian outdoor apparel market, Dolomite has now been taken over by an American company. Founded in 1897, Dolomite is an expert in mountain apparel and shoes. Having served as a technical partner on major expeditions, including in the Himalayas, Dolomite has been part of the Italian group Tecnica since 1998.
Giancarlo and Alberto Zanatta, the heads of the group, (Tecnica, Lowa, Blizzard, Moon Boot, Nordica, Rollerblade...) have decided to sell Dolomite. According to local press in the region of Treviso, where Tecnica is headquartered, the brand has been sold to Global Brands Symphony for 6.7 million euros, plus 50% of the value of inventories, a deal that prevailed over Brand Group International’s offer of 8 million euros plus 30% of the value of inventories.
Symphony Global Brands has offered no comment. However, the group, which is based in Washington DC, describes itself as a group that specializes in acquiring brands in which it sees untapped potential. Its focuses on sports brands and online gaming sites. Its management also specializes in strategic consulting in building and strengthening brand portfolios.
The group is led by the former head of Diadora, Paul Milone, who had sold the brand to Basicnet in 1997. His associates include Michael Mankowski, a licensing expert, and Jeffrey Wattenberg, a veteran in the telecom sector.
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