MILAN — Pomellato declined to comment on reports that a number of global luxury companies are eyeing the jewelry brand.
According to Italian financial daily Il Sole 24 Ore, French conglomerate PPR, which has frequently been named as a potential buyer, is said to be in pole position to acquire the label, followed by Prada, Swarovski and Renzo Rosso’s Only the Brave.
According to Il Sole 24 Ore, Pomellato, which counts the Rabolini family as its main shareholder, followed by the Damiani Group and Pomellato chief executive officer Andrea Morante, is said to have set the price at about 14 to 15 times the company’s earnings before interest, taxes, depreciation and amortization. This indicates that a potential investor would need to shell out between 315 million euros, or $409 million at current exchange, and 338 million euros, or $439 million, to acquire the company.
In 2012 Pomellato saw revenues rise 9 percent to 137.7 million euros, or $165 million at average exchange, compared to 2011, and the EBITDA grew to 22.5 million euros, or $27 million, from 20.1 million euros, or $24 million, over the previous year.
“We got in touch with Giuseppe Rabolini a year ago and my father [Renzo Rosso] has a very good personal relationship with him, but even if we think highly of the company, considering that we’ve just acquired Marni, we are not currently looking to invest in a new business, especially one that operates outside our core business,” said Only the Brave ceo Stefano Rosso.
Representatives from Prada and Swarovski declined comment.
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“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia