MILAN — Brioni has opened a flagship store in Zagreb, Croatia.
This story first appeared in the March 25, 2009 issue of WWD. Subscribe Today.
“At the moment, growth in this part of Europe is a very interesting prospect for Brioni,” said Andrea Perrone, Brioni’s co-chief executive officer, who added that the label shared the same name as Croatia’s Brioni islands.
The 1,500-square-foot shop, which opened Monday, carries Brioni’s men’s and women’s ready-to-wear collections and offers a tailoring service. Further Brioni store openings are scheduled in Istanbul, Beirut, Dubai, Shanghai, Saint Petersburg, Russia, and Lugano, Switzerland, this year.
Late last year, the luxury Italian brand hired BNP Paribas to help sell a 20 to 25 percent stake in the firm. Among those reportedly interested in the brand are Mediobanca, PPR, LVMH Moët Hennessy Louis Vuitton and Hermès.
Brioni’s controlling shareholders, who are descendants of the company’s founders, are looking for an investment of 100 million euros, or $125.4 million at current exchange, to ease debts and develop the business — including buying an accessories plant — with a view to listing on the Bourse in four or five years, according to sources.