MILAN — Italian textile and fashion manufacturer Isa Seta SpA, which is under the Carisma group’s umbrella, has acquired, on Thursday, 100 percent of children’s wear specialist Simonetta SpA.
The value of the operation was not disclosed.
According to the company, Isa Seta has also subscribed a capital increase to support the relaunch of Simonetta, which, along with operating its namesake children’s wear brand, also manufactures and distributes under license the kids’ collections of Lanvin, Emilio Pucci and Aston Martin.
“We believe there is a growing market for high-quality products featuring Italian style and affordable prices,” said Isa Seta chairman Giovanni Cagnoli. “Simonetta has a solid know-how and an absolute leadership in this sector and we think we can return to grow in a medium term by bringing the Italian excellence into the trendy world of children’s fashion.”
According to Cagnoli, the strategic plan developed by the company aims to reinforce the Simonetta brand, establish new licensing agreements in the luxury segment of the market and continue growing with the Fendi Kids label.