Philipp Plein International has acquired a majority stake in Billionaire Couture, the luxury men’s wear line created by Italian entrepreneur Flavio Briatore in 2005, and designer Philipp Plein will become the brand’s creative director. His first collection for the label will be presented on June 20 in Milan. Plein will continue to design his own namesake line.

“We believe that Billionaire Couture has a huge potential and will continue growing,” Plein said. “We believe that it can reach even further. We are selling a product that is not for everyone, it is a luxury product that represents artisans from Italy and we want to bring this brand to the next level.” The amount paid for the brand was not disclosed.

The brand is entirely made in Italy and, in addition to the men’s line, there is a boys’ collection. Billionaire Couture is based in Milan and counts 30 stores and 48 points of sale worldwide. The plan is to open 30 additional boutiques in the next five years. The line is named after the iconic Billionaire nightclub in luxury resort Porto Cervo, Italy. The Billionaire Couture fashion line is co-owned by Briatore and Antonio Percassi. The latter owns beauty firms Kiko, Madina and Womo and has several investments in real estate in fashion.

“We want to be the most exclusive men’s brand in the world. Italy has a deep history in creating fashion brands and we firmly believe in this project,” Plein said.

Plein also said he also plans invest in a basketball team, but declined to provide additional details at the moment. Equally cryptic, he said he will ask “a famous soccer player” to front a new ad campaign for the brand, keeping the name under wraps.

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