Italian cashmere specialist broadens ownership

Italian cashmere specialist broadens ownership

Brunello Cucinelli (turnover 2011 EUR 246.2 million, 54 shops, 700 employees, export share 65% of turnover) the Italian cashmere clothing and accessory specialists offers 30 % of its share capital to potential investors and at a price of EUR 6.75 to EUR 7.75 and to 90 % to institutional investors. The offering started on April 20 and lasts until April 27, 2012. The shares will be quoted at the stock exchange on Mai 3, 2012

Another Italian stock exchange candidate in 2012 is Pianoforte (turnover 2011 EUR 280 million) active in the clothing and accessory sector and controls companies like the luxury label Yamamay (leasure wear) and Carpis (leather accessories). Another probability could be the return of Valention to the stock exchange when private equity company Permira is selling its stake of 80 % or Italian Marzotto textile the other 20 %. But also the family owned business of Versace needs more means to finance the opening of new markets and to enhance its business. There are no Italian suitors for these companies but in neighbouring France LVMH is always interested in Italian noble brands and owns already Gucci and French rival PPR bought Bulgari and Brioni. Rumors pretend that Bernard Arnault of LVMH has set his eyes on the business of Giorgio Armani. We shall see what the forthcoming might be!

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