MILAN — 2024 ends with several Italian companies changing their look, reorganizing, evaluating options from sale to listing, forging new partnerships and preparing for 2025. I did.
Moschino’s parent company Effe has sold its beauty business to long-time licensee Euro Italia for 98 million euros. This contributed to improving the group’s profitability. Sales in the first nine months of 2024 decreased by 17.8% to 207.8 million euros, affected by the slowdown in the luxury goods industry. Challenges in wholesale distribution. In September, after presenting her spring 2025 collection, designer Alberta Ferretti announced that she would be withdrawing from the brand of the same name, which she founded in 1981 and is also part of Effe. At the time, Effe pointed to additional changes, saying, “The company is proceeding with a careful and detailed analysis of the roles and functions of the various departments, with the aim of reorganizing the internal human resources, ensuring equal employment. ‘ issued a statement. Increase efficiency. ”
In October, Mr. Effe promoted Mr. Ferretti to replace Mr. Lorenzo Serafini at the helm of the brand, with his first collection expected to be unveiled in February. He joined the group in 2014 and was responsible for the design of the Philosophy label, which will be integrated into the Alberta Ferretti line from the fall 2025 season. Also in November, the group appointed its first general manager, Alexandra Lamprecht, who has experience working with luxury brands ranging from Ferragamo and Valentino to Etro.
Etro itself could enter a new phase, with Rothschild authorized to find investors for Italian companies, the people said. Private equity giant L. Catterton acquired a majority stake in Etro in July 2021, but speculation has grown about a possible exit as the four-year investment period approaches .
Rothschild is making tentacles, but it is not yet clear what kind of deal L. Catterton and the Etro family are seeking, whether it be a complete withdrawal or a stock sale.
Versace’s future is also uncertain, as Capri Holdings, the company’s parent company, is said to be collaborating with Barclays on the sale of the Italian luxury brand and Jimmy Choo as it focuses on rebuilding Michael Kors. The development comes on the heels of Tapestry’s failed $8.5 billion acquisition, which was halted following antitrust allegations from the U.S. government.
Spring 2025, behind the scenes at Versace.
Delphine Achard/WWD
Versace’s first-half sales fell 22.1% to $420 million, as demand for luxury goods slowed and China’s economy slowed. Kering was previously said to be interested in buying Versace, but no deal materialized and the French group, which is busy restructuring Gucci, could still be keen on acquiring the Milan-based brand. Observers wonder if this is the case.
In addition, sources in Milan are speculating about chief creative officer Donatella Versace’s future in 2025, although her contract is said to expire in February.
Meanwhile, Remo Ruffini has found a new partner in Bernard Arnault’s LVMH Moët Hennessy Louis Vuitton. In September, the Italian entrepreneur and chairman and chief executive officer of the Moncler Group signed a deal with LVMH that will help strengthen his position as Moncler’s largest shareholder. The Moncler brand continues to grow, and Ruffini told WWD ahead of last fall’s Moncler Genius Collection in Shanghai that the brand has even bigger plans. He also continues to develop and increase awareness of Moncler Grenoble, with yet another brand experience planned for March 15th at a yet-to-be-disclosed location.
With support from LVMH, L. Catterton also supported the delisting of Tod’s Group Chairman Diego Della Valle in 2024. Della Valle had long expressed the belief that the company was undervalued in the stock market and wanted flexibility and freedom to further develop each business. You can build your brand without the quarterly scrutiny of investors. This year will be the first year he can pursue that strategy.
In the first major step after taking the company private, Della Valle has hired former Chanel president and chief operating officer John Galantic to lead the Tod’s brand, Roger Vivier, Hogan, Fay and others. Appointed CEO of the group.
We will also find out whether Golden Goose will go public this year. After reporting a 12% increase in revenue for the nine months to 30 September to €466 million, the company announced that it was due to move in June but was postponed to the 11th hour due to fluctuations in European markets. We asked for the latest information on the IPO. CEO Silvio Kampala said: “The process is by no means over for us. We continue to create value in partnership with our investors, and once the right market conditions are in place, it will be an option we consider. Probably.” In 2020, the company was acquired by private equity fund Permira from the Carlyle Europe Buyout Fund.
FiveFourFive’s Golden Goose.
Courtesy of Golden Goose
K-Way is also gearing up for 2025 as it celebrates its 60th anniversary following an investment unveiled by Permira Growth Opportunities II in October. The fund will acquire a 40% stake in the French luxury outerwear brand from Basicnet, led by the Boglione family, valuing the company at more than 500 million euros.
Permira is expanding across channels, with a particular focus on the direct-to-consumer route, opening new stores, expanding its product range and strengthening the brand’s leadership in France and Italy, as well as international growth. It is expected that it will support K-way’s growth.
The future of the New Guards group is also attracting attention. New Guards Group filed a Chapter 11 lawsuit in Italy in November after being stripped of its license to sell Reebok footwear and apparel in Europe. Farfetch division NGG, which owns many brands and is an Off-White licensee, will undergo restructuring and debt management procedures under Italian bankruptcy law, giving it time and space to rebuild. It will be.
As reported, Authentic Brands Group is terminating NGG’s Reebok license in Europe, with NGG understood to be obligated to pay approximately $300 million in royalties to ABG.
NGG, a division of Farfetch, is the owner of brands such as Marcelo Burlon County of Milan, Palm Angels, Unravel Project, Heron Preston, Alanui, Peggy Gou, Ambush and There Was One. NGG still holds the license to Off-White, the late Virgil Abloh’s brand, which was acquired by New York-based Blue Star Alliance LLC earlier this year.
