MILAN — Nuo Capital has acquired a minority stake in Venetian high-end fashion company Slowear.
An investment vehicle backed by Hong Kong’s Pao Cheng family, Nuo will support the growth of Slowear in Asia with its strong network of private and institutional relationships in the Far East. The value of the operation was not disclosed.
Slowear operates the Incotex trouser label — its first and largest brand — as well as Zanone knitwear, Glanshirt shirtmaker and Montedoro outerwear.
“Our goal is to provide an important boost to the company’s development, accelerating the rollout of the monobrand retail format, developing the channel and digital communication, and facilitating our entry into the Asian market, where we see great potential,” says Roberto Compagno, Slowear president and chief executive officer and son of Carlo Compagno, who founded the company in 1951. “Nuo Capital is a partner that’s consistent with our family business culture, and which can support us, both in growth and in managing the strategic challenges in our sector. We were struck by Nuo Capital’s philosophy, by their long-term approach and by their willingness to support the best family and entrepreneurial businesses, sharing their values, and with the common goal of developing Italian excellence in the Far East.”
Slowear, which sells it’s labels in top multibrand stores around the world, also operates 15 direct stores in major international destinations such as Milan, Paris, Monaco, New York, Tokyo and London, where the company manages three boutiques in Marylebone, Mayfair and King’s Road.
Founded in 2016 by Stephen Cheng, Nuo Capital, which has offices in Milan, Luxembourg and Hong Kong, has invested in six companies so far, including interior design label Sozzi Arradementi and wine maker Terra Moretti.