MILAN — Italian retailer Coin SpA said Monday that Marco Marchi, founder and president of Italian diffusion line Liu Jo, has invested in the company.
Marchi has bought a minority interest in Coin SpA through a capital increase. As a result the entrepreneur will hold a 15 percent stake in the Italian retailer.
Financial details of the transaction were not revealed.
“A new important Italian entrepreneur believes in the Coin project, in the recipe and growth plans for our retail brand,” said Giorgio Rossi, Coin SpA president. “The transaction confirms the quality of the strategic choices put in place by the entrepreneurs and management teams. We’re convinced that Marchi will bring his effective contribution to the ongoing acceleration of the renovation and development plans.”
The Italian retailer has been busy improving its positioning and strengthening its management team on the heels of the acquisition by Centenary SpA in March 2018 from British private equity firm BC Partners.
In November last year, Coin SpA appointed Rossi as president, a role that had been vacant since the acquisition. In May this year, it also tapped Cristina Mollis as chief executive officer, a new role for the company.
The retailer manages 40 directly operated flagships in Italy and 100 stores under the Coincasa banner in the country and abroad. Last May it unveiled its third Coin Excelsior outpost in Trieste, Italy following units in Rome and Milan’s CityLife shopping district, which opened in 2014 and 2018, respectively.
Coin was founded by Vittorio Coin in 1916. In 1974, grandsons Vittorio and Piergiorgio took the helm of the family company. In 1999, the Coin Group was listed on the Milan Stock Exchange. While run by the founding family’s fourth generation, the Coin Group was in 2005 acquired by European private equity concern Pai Partners and two years later, British-based BC Partners, took control of the Coin Group and delisted it.