By  on September 4, 2013

MILAN — Brunello Cucinelli SpA is launching a tailoring and made-to-measure men’s project and has signed a memorandum of understanding to buy men’s suit producer Sartoria d’Avenza from d’Avenza Fashion SpA for 3.5 million euros, or $4.6 million at current exchange. The division employs 56 workers.

The Italian luxury firm is also planning to purchase the property located in Avenza, near Tuscany’s Carrara, where the business is and will continue to be based. The d’Avenza trademark is not part of the purchase.

The Cucinelli group has been granted exclusive negotiating rights until the end of January, and the transaction will be finalized at the beginning of 2014. Trade unions were notified on Tuesday.

Brunello Cucinelli said it was a “great honor” to work with his “esteemed friend” Renato Cecchi and his Sartoria d’Avenza, which has a history of more than 50 years and a top men’s wear heritage. “The company and its area around Carrara represent a district of excellence in Made in Italy for the tailoring of men’s suits,” said Cucinelli.

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