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MILAN — Labelux Group, a Vienna-based luxury goods holding company, has acquired a stake in high-end Italian accessories maker Zagliani.
This story first appeared in the September 18, 2009 issue of WWD. Subscribe Today.
Though the terms of the deal were not disclosed, Berndt Hauptkorn, chief executive officer of Labelux, said the investment is in line with the company’s “buy to build” strategy.
“We continue to believe that the luxury goods market will remain on a long-term growth trajectory for those brands and designers who manage to occupy a unique territory and deliver on design, quality and craftsmanship,” he said.
Mauro Orietti-Carella, Zagliani’s owner and creative director since 2002, said the new setup will allow Zagliani to reach its potential and support long term growth. “We chose Labelux because we share a philosophy of uncompromised quality in every aspect of the brand,” he said. “We have always believed that brands with strong integrity and focused DNA will continue to have a future in today and tomorrow’s luxury market.”
The 62-year-old Zagliani gained market shares in the luxury goods sector with its labor-intensive bags made from exotic skins, prevalently crocodile. Many of the bags are treated with a skin care-derived patent that employs silicon and resins, developed by Carella, a former dermatologist. Retail prices range from $2,000 for a python bag to $21,000 for a crocodile version with flourishes of real gold.
Looking forward, Carella said the company will continue to improve its quality and open monobrand stores to showcase a broader product assortment.
Zagliani is carried in stores in 33 countries including Blake in Chicago, HLorenzo in Los Angeles, L’Eclaireur in Paris and London’s Harvey Nichols.
In 2007, Labelux began building its portfolio of luxury brands. It owns Bally and has majority stakes in Derek Lam and in London-based jewelry designer Solange Azagury-Partridge. The Benckiser family, owners of Labelux, also control fragrance company Coty Inc.
“Zagliani is our fourth investment and another exciting step in building up Labelux as a multibrand luxury firm,” said Hauptkorn.