MILAN — Italian luxury retailer Franz Kraler has further reinforced its presence in the exclusive ski resort Cortina d’Ampezzo.
Franz Kraler on Wednesday completed the acquisition of a two-story boutique that was formerly operated by Italy’s Le Noir, a retail chain with high-end stores in the Veneto region. Following the deal, Franz Kraler controls five doors in Cortina d’Ampezzo.
“We are extremely happy to have completed the takeover of Le Noir in Cortina. The integration of this point of sale into our group will enable us to enrich our offering in Cortina, within strategic product segments, allowing all the prestigious brands we carry to get great visibility in such an international holiday destination,” said Franz Kraler co-owner Daniela Kraler. “This acquisition, consolidating our presence on Corso Italia, is part of our expansion project aimed at making our company grow through M&A operations directed to excellent companies, whose heritage can be easily integrated into our brand and product offering, making it more and more distinctive and exclusive.”
Franz Kraler will maintain Le Noir’s brand selection, which includes Christian Louboutin, Gucci, Dior and Lanvin, among others.
The Italian retailer closed 2016 with revenues of 40 million euros, or $44.3 million at average exchange.