Most Recent Articles In Mergers and Acquisitions
Latest Mergers and Acquisitions Articles
- FTC Signs Off on Sale of 330 Family Dollar Stores
- TSG Consumer Partners Acquires Backcountry.com
- Authentic Brands Group Acquires Tretorn
More Articles By
MILAN — Diesel chief Renzo Rosso confirmed this morning he has taken a majority stake in Marni through his holding company Only the Brave Srl, during a press conference here with Marni’s founders Gianni and his wife Consuelo Castiglioni.
Financial terms of the transaction were not disclosed.
Rosso and Castiglioni, who held the chief executive position at Marni, will become co-ceos, and creative director Consuelo will remain head of design.
“It’s a wonderful, global company and an iconic, fantastic, creative and recognizable brand,” said the ebullient Rosso. “We will provide new energies and resources to add brilliance to the label.”
Castiglioni said he and his wife were looking for a “long-term, or “no-term” partner” with know-how that would share their vision and help fully develop Marni.
“The partnership evolved naturally, stemming from two families that are friends,” said Castiglioni. “Marni’s identity will not change, but we will be able to compete in a complex market with brands that are part of major fashion groups.”
Only the Brave comprises the Viktor & Rolf and Maison Martin Margiela labels, and top-manufacturing arm Staff International, based in Italy’s Veneto region. Staff produces and distributes collections for Just Cavalli, DSquared2, Vivienne Westwood and Marc Jacobs.