NEW OWNER: Roberta di Camerino, best known for its made-in-Italy luxurious handbags in rich colors and textures, has changed hands again.
Chinese private equity fund United Trademarks Group Ltd. (UTG) has acquired a majority stake in the Venetian brand, which was founded by the late Giuliana Coen after the end of World War II and became part of Wicky Hassan’s Sixty Group in 2008.
According to a statement, UTG, founded in the early Eighties, aims “to bring the brand back to its former splendor, developing its potential and underscoring its artisanal value.”
With seven international offices and an estimated $1.5 billion in annual turnover, UTG is specialized in boosting fashion and luxury brands’ visibility and commercial success in China.
Following the acquisition, Roberta di Camerino’s current chief executive officer Ercole De Cesare will work alongside UTG executives Yuexi Pan and Cedric Devroye.