WWD.com/globe-news/retail-business/angeloni-buys-stake-in-raffaele-caruso-2065307/
government-trade
government-trade

Angeloni Buys Stake in Raffaele Caruso

Umberto Angeloni has signed a preliminary agreement to buy 35 percent of Raffaele Caruso SpA.

MILAN — Umberto Angeloni, who spearheaded Brioni’s growth from 1990 until 2007 and turned it into a luxury lifestyle brand, is back in the fashion arena, after a year-long hiatus.

Through his “Aplomb” holding, Angeloni has signed a preliminary agreement to buy 35 percent of Raffaele Caruso SpA, a men’s wear manufacturing company listed on the Milan stock exchange.

Angeloni has an option to acquire a controlling stake in the near future.

Caruso was founded in 1958 in Soragna, outside the city of Parma, in northern Italy, and produces men’s wear collections for leading fashion brands. It comprises three production plants and 600 employees, and expects sales of 60 million euros, or $76.3 million, in 2008.

Angeloni called Caruso “the ideal production partner” for a new project he plans to develop and which he will unveil during Milan’s men’s wear fashion week in January.