MILAN — Luciano Donatelli, president of luxury advisory firm LD Consulting and a former executive at the Ermenegildo Zegna Group, is looking at buying cashmere brand Malo.
On Sept. 20, Donatelli, who is financially supported by two funds, will make a bid at the auction organized by the Florence court to find a buyer for Malo, which went bankrupt last June. The binding offers will start from a minimum amount of 10 million euros.
The winner will take home the rights to use the brand, production facilities in Campi Bisenzio and Borgonovo Val Tidone, warehouses, flagships in Milan, Rome Forte dei Marmi, Porto Cervo and Porto Rotondo, the company’s outlet, the Spanish company operating the retail unit in Marbella and 109 employees.
“I strongly believe in the relaunch of the company, and I’ll do everything possible to save the brands and its employees,” said Donatelli, who was hired by Malo last October as a consultant to reboot the company.
During his mandate, which ended in June, Donatelli managed to presents men’s and women’s collections, collecting sales for 10 million euros. “Unfortunately, in spring, Malo’s Russian owners stopped investing in the company and we had to interrupt our activities,” he explained.
The Russian private investment fund, whose name has always been kept under wraps and which acquired the brand in 2015 from Tuscan luxury retail group Evanthe, filed a petition for composition with creditors in February. The Florence court revoked this in June and declared Malo bankrupt.