MILAN — In a vote of confidence in the brand’s growth potential, Sator Private Equity Fund has acquired the remaining 16 percent stake of L’Autre Chose S.p.A. it did not already own, reaching total control of the Italian fashion company.
Financial terms of the transition were not disclosed.
Sator Private Equity Fund in 2013 first acquired a 49 percent stake in the company, which was previously controlled by the founding Boccaccini family. Three years later, it became majority shareholder.
Matteo Arpe is the founder, chairman and chief executive officer of Sator, which also has investments in Banca Profilo (private banking and capital market); Aedes SIIQ (real estate); Eprice (e-commerce), and 99 Technology (biotech).
The Boccaccinis launched L’Autre Chose as a shoe brand in 1987. The first ready-to-wear collection was launched in 2005, followed by handbags in 2014. The company is now reinforcing the product offer by integrating the collection assortment with leather goods and accessories.
The company is based in Porto Sant’Elpidio, in the Marche region, Italy’s storied footwear hub.
Sator has been structuring the firm with a new management, including Alice Carli, who joined as ceo last June from Peuterey, where she was head of global marketing and business development for the U.S. and Asia, and succeeding Erika Filipponi.
This was followed by the arrival of Nicolò Beretta, founder of the Giannico brand, as creative director. The new collection hit stores on International Women’s Day on March 8.
In an interview with Carli in September, she explained that Beretta’s take on the upper premium brand will help it to grow internationally and expand its core footwear division as well as its rtw, handbags and small leather goods categories. Shoes account for 70 percent of sales, followed by rtw, which represents 20 percent. Leather goods account for the remainder. The goal is to balance things out, with shoes accounting for 50 percent and expanding the percentage of leather goods.
Carli has been building the brand’s omnichannel distribution with the launch of a new e-commerce site last September, integrated with Farfetch and its retail network. She has also inked new agreements with stores including Rinascente, LuisaViaRoma, Tsum Moscow, Galeries Lafayette, Moda.ru, Bosco di Ciliegi, Beams, United Arrows, Isetan and Printemps.
The group’s expectations are for sales to post a double-digit growth in 2018. As of March 2018, revenues totaled 13 million euros. Exports account for 40 percent of the total.