MILAN — In a ranking of the top 50 Italian fashion firms that have the requisites to go public, Dolce & Gabbana remains in the top spot, followed by Giorgio Armani — second only given the age of the founding designer — and the Ermenegildo Zegna Group.
On Wednesday, luxury and fashion consultancy Pambianco Strategie di Impresa presented at the Milan Bourse its 2012 study of the fashion companies that have the right characteristics for a stock market listing in a three-to-five-year period — independently from any actual plans by the companies to go public. In fact, Domenico Dolce, Stefano Gabbana, Giorgio Armani and Gildo Zegna, chief executive officer of the textile and fashion giant, have repeatedly said the plan was to keep their companies private. Pambianco this year added a ranking of the top 15 home and design firms, which saw Kartell secure the first slot.
The study is based on criteria such as sales of more than 50 million euros, or $65.3 million at current exchange; an increase of revenues over the past three years of more than 10 percent; a company’s retail network, its debt, and the age of the founding entrepreneur or its ceo.
“Fashion and the Bourse are increasingly getting closer,” said Carlo Pambianco, head of the consultancy. “Entrepreneurs today are aware that approaching the financial world today is a fundamental strategic lever to continue to invest and develop their brands in main international markets.”
Compared with last year’s study, Dolce & Gabbana and Armani’s positioning was unvaried, while Zegna moved up from the fifth place to the third. Likewise, Max Mara was once again in seventh place. While underscoring that the ranking has no relevance with the performance of each company, Pambianco said that Diesel’s parent company, Only the Brave, dropped to eighth place from fourth last year. Diesel founder Renzo Rosso has never ruled out a listing but has recently said he does not see it happening anytime soon.
Loro Piana moved up to number nine from 13, and Moncler down to number 10 from eighth. Moncler shelved its initial public offering last year, but chairman and ceo Remo Ruffini said in November that “a listing remains [the company’s] goal.” Conversely, last month, Pier Luigi Loro Piana, ceo of the textile and apparel group, said he was not thinking of going public, after toying with the idea 13 years ago when the company wanted to diversify into retail. Roberto Cavalli moved up to the 15th position from the 22nd last year and Versace was up to the 20th position from the 23rd. The Versace family, as well as Roberto Cavalli, have not taken any steps towards a listing so far.
Companies that have been reported as eyeing the Bourse were part of the ranking. For example, jewelry firm Pomellato ranked 33rd from 35th last year; men’s wear brand Stefano Ricci moved up to the 16th spot compared with 32nd in 2011, and Pianoforte, parent holding of accessories, beachwear and swimwear brands Carpisa, Yamamay and Jaked, was listed as number 12, unvaried. Ermanno Scervino was a new entry positioned at number 19, as was Dirk Bikkembergs, which closed the list at number 50.
Luca Peyrano, head of Continental Europe Primary Markets of the Italian Bourse, said that, if all these companies were to go public with a 30 percent stake, they would capitalize a total of 12 billion euros, or $15.7 billion.
The country’s stock exchange is “the ideal venue for fashion and luxury brands because it knows how to enhance intangible assets such as the value of the brand and its know-how,” said Peyrano. “Through a listing, many of these companies could have the financial and managerial resources necessary to accelerate their growth and to turn from domestic into global champions.” He also said that Italy lacked big groups, but identified the Bourse as “a system which helps aggregate.”
Asked about prospects for 2013, Peyrano said there is strong interest in the Bourse, hurt by a “volatile and unstable context, where a lot depends on Europe and the U.S.” He said it was “complicated” to provide a number of firms likely to go public next year, but did not rule out new IPOs. Peyrano cited Salvatore Ferragamo and Brunello Cucinelli’s recent successful public listings, which took place “in the worst possible period.”
There'll be no rest for those headed to Europe for men's, as Paris just closed the gap with Milan. According to a provisional calendar released by the Chambre Syndicale, Paris Men's Week will now open a day earlier on January 16. See new highlights on the official lineup on WWD.com. #wwdnews #wwdfashion (📷: @kukukuba)
BREAKING: Jonathan Saunders is leaving @DVF. The designer has resigned from his position as chief creative officer of Diane von Furstenberg, the company said in a statement on Friday. At the time of his hire, von Furstenberg said Saunders’ arrival symbolized and facilitated her stepping back from the day-to-day duties that occupy the work of a full-time creative director. The British designer joined DVF in May 2016 and was in charge of all product categories. #wwdnews
For @versace_official’s spring ad campaign, the brand emphasized the archival prints from the spring tribute collection dedicated to the late Gianni Versace. Closing out the show were five of Gianni’s favorite models: Cindy, Naomi, Carla, Helena, and Claudia. Bowing on December 18, the new campaign is yet another tribute to supermodel-dom as the images by Steven Meisel are fronted by @iamnaomicampbell, @cturlington, @gisele and more. #wwdfashion
Four-time Oscar-nominated actress Annette Bening has been waiting 20 years to play Gloria Graham in "Film Stars Don't Die in Liverpool," which will be released on December 29. The movie about Graham – a Hollywood star known for her controversial relationship with a younger Englishman named Peter Turner – is based off a memoir Turned wrote. "She felt vulnerable to him, because she loved him, she really did love him. And anyone that we really truly are in love with, we re vulnerable to in a very deep way," said Bening. Read our full interview with the modern icon of an actress on WWD.com. #wwdeye (📷: @ninebagatelles; Styled by @cristinaehrlich)
The crisp white button down: a staple that can be dressed up or down and accessorized throughout the decades. Here, on a Art Basel-goer in 2017 on the left and on the iconic Audrey Hepburn in “Roman Holiday” in 1953 on the right. #tbt #wwdfashion (📷: Andrew Morales)
Known for her work with @victoriassecret, 25-year-old model @georgiafowler is raising her profile in Hollywood. Fowler stars in @vincecamuto’s holiday campaign, which launched in partnership with “Pitch Perfect 3.” “Almost every shoot with Vince Camuto, I’ve had to face a fear…It was definitely a challenge. I’m so grateful for it, though. I’ve always wanted to be a pop star, so that was the perfect chance,” Fowler said. Head to WWD.com to read about Fowler’s experience modeling, including at the #VSFashionShow, and her relationship with Nick Jonas. #wwdeye (📷: @jilliansollazzo)
EXCLUSIVE: Huda Kattan just became the first beauty influencer to land a major beauty deal. Kattan's business, @hudabeauty, has received a minority investment from private equity firm TSG Consumer Partners. The brand, which industry sources say is on track to do $200 million in retail sales for 2017, will receive support on product, retail and geographic expansion through the deal. Get all the details on the deal and read @_a_collins' interview with Kattan on WWD.com. Link in bio. (📷: @jgreenery) #wwdbeauty #wwdnews
Peruvian model @juanaburga_official – who is known for walking the runways of @rodarte, @viviennewestwood and @torybuch – is making the move to the big screen with drama “Los Últimos.” The film premiered in Argentina in November and arrives in the U.S. and Europe in 2018. On making the switch from modeling to acting, Burga told WWD: “It’s a completely different thing – a lot of people think it’s similar or try to connect things, especially like getting used to the camera or being looked at all the time or playing these different characrers, but film is a completely different story.” #wwdeye (📷: @jgreenery)
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)