MILAN — Italian private equity fund Style Capital SGR is expanding overseas.
Founding partner and chief executive officer Roberta Benaglia said on Tuesday that Style Capital has acquired a 30 percent stake in California-based denim brand Re/Done. The value of the operation was not disclosed.
“We thought it was the right moment to invest in the denim [business]. The Re/Done brand has a digital-oriented mind-set, which makes it really contemporary,” Benaglia said during a conference organized by Fashion magazine and Netcomm, the Italian digital trade consortium.
The denim brand, which started its operations three years ago focusing on reworked and reshaped Levi’s jeans, has grown since then, expanding its presence on the U.S. market thanks to an online-driven strategy. Forty percent of the company’s turnover is generated online.
According to Benaglia, Re/Done is a brand that has developed the strategy of ready-made fashion banking on upcycled fashion, “an approach which started gaining momentum when the brand was established.” Starting with the resort 2018 season, the denim brand expanded its offer to other product categories, including upcycled hoodies and blazers.
As reported, in February Style Capital acquired a 32 percent stake in MSGM Srl, the company controlling the namesake contemporary label founded in 2009 by Massimo Giorgetti with the support of manufacturing company Manifattura Paoloni. The latter retains a 49 percent share. The remaining 19 percent is controlled by Giorgetti, who continues to lead the fashion house in the role of creative and artistic director of the brand.
In April last year, the fund acquired a 51 percent stake in women’s wear brand Forte_Forte.
Style Capital’s parent company Style Capital Sgr also controls the DGPA Capital private-equity fund, which includes investments in beachwear brand Sundek, as well as in jewelry label Damiani. DGPA sold its participation in Golden Goose Deluxe Brand to investment fund Ergon Capital Partners III in May 2015.