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MILAN — Former Valentino chairman Matteo Marzotto and other investors have formed a luxury real estate group, Montecristo Holding, based here.
This story first appeared in the July 17, 2008 issue of WWD. Subscribe Today.
Marzotto, chairman of the firm, said he wants it to become a leading investor “in exclusive sites and historical houses” that will be refurbished and sold. The properties will be environmentally friendly and use energy-saving technologies.
Marzotto said the enterprise is a “fascinating challenge that combines my passions and competence achieved over the years.”
Six construction sites are already under way in areas such as the Conero Park and the Guasco areas in Ancona, both in Italy’s central-eastern region of Marche.
The new venture follows Marzotto’s appointment as president of Enit, Italy’s national agency for tourism. Earlier this month, he also joined the board of watch and jewelry brand Morellato & Sector. Marzotto’s autobiography, titled “Flying High,” is slated to hit stores by yearend.
Marzotto left Valentino Fashion Group in March after its sale to Italian equity fund Permira for $3.55 billion. Marzotto, who is passionate about adrenalin-inducing pursuits such as dirt bike competitions, is a hands-on executive who forged a strong bond with Valentino Garavani and traveled extensively with the designer, becoming a high-profile personality for the brand.