Covid has forced the Italian luxury industry to step up the pace of its transformation and search for investors, as shown by Zegna announcing a forthcoming stock market listing, and L Catterton’s acquisition of Etro.
Italian label Stefanel has officially been bought by budget fashion retailer OVS, in an operation worth €3.2 million. OVS is planning to tap industrial and commercial synergies between the two businesses.
French leather goods brand Longchamp has won a retail space of 95 square metres in the heart of Milan’s famous shopping centre, the Galleria Vittorio Emanuele II. The space was previously occupied by Stefanel.
The UK business of Stefanel has collapsed into administration and will close its two UK stores, it has emerged. It follows news that its Italian parent has applied for special administration under bankruptcy law.
The Rome-based luxury house has announced the appointment of Charles Delapalme's successor as head of retail and wholesale as he leaves to join Christian Dior: Giuseppe Oliveri, who joins Fendi from... Christian Dior.
The Italian fashion group acquired by English asset management firm Attestor Capital last year has confirmed the appointment of Cristiano Portas as its CEO. He brings 16 years of experience leading swimwear brand Arena.