The Padua-based company was the only participant in the auction organized by the Florence court to find a buyer for Malo, which went bankrupt in June. The binding offers started from a minimum amount of 10 million euros, which is how much Finplace 2 offered.
The acquisition, which was finalized on Friday, enabled Finplace2 to secure 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 firm operating the retail unit in Marbella, and 109 employees.
Malo was previously controlled by Russian private investment fund Quadro Capital Partners, which acquired the brand in 2015 from Tuscan luxury retail group Evanthe. The fund filed a petition for composition with creditors in February, which was revoked in June by the Florence court, which declared Malo bankrupt.
Finplace 2 is controlled by Italian entrepreneurs Walter Maiocchi, Luigi Belloni and Mario Stangoni.