MILAN — Private equity fund 21st Luxury Holdings has agreed to rent the Maria Grazia Severi business.
The deal was signed between the Swiss company, which was established in 2014 by Gualtiero Giori, and MMB Group.
Controlled by the Jody Investment fund, MMB Group operates the main line Maria Grazia Severi Black, as well as the younger Maria Grazia Severi White label and the Maria Grazia Severi Darling brand, which is focused on the curvy market.
The companies declined to reveal the financial terms of the operation.
The Maria Grazia Severi collections are available in more the 400 stores globally. The brand also operates a flagship on Milan’s Via della Spiga, as well as an online store, which debuted last September.
In 2016, MMB, which also produces and distributes under license the Plein Sud fashion brand, generated total revenues of 21 million euros, or $23.1 million at average exchange.
21st Luxury Holdings’ other investments include Hadoro, a luxury high-tech products brand; Feld & Volk, which customizes iPhones by replacing standard shells with those made from high-end materials; catering company Savory, and 10-Vans, a Nantes, France-based wine-focused start-up.
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