The investment bank Rothschild is said to have a mandate to find a minority shareholder in the Florence-based fashion house to further boost its business.

The brand’s owners are planning to further expand globally with the potential injection of fresh funds.

The Italian investment company bought the stake from the Zanatta family, who founded the group in 1960.

Clessidra and the Buccellati family will retain a 15 percent stake in the company.

Former vice president Piero Alonzo succeeds Maurizio Bottinelli.

The publicly listed Italmobiliare has secured the Italian private equity fund for roughly 20 million euros, or $22.7 million, at current exchange rate.

The private equity acquired a 67 percent stake in the jewelry brand in 2013.

The Italian private equity firm is in exclusive and binding negotiations with Italmobiliare SpA, an investment holding owned by the Pesenti family.

The executive, who is also chairman of the Roberto Cavalli house, was previously vice chairman of the Milan-based private equity firm.

The executive founded the Milan-based private equity company that took control of the Roberto Cavalli firm last year.

The Italian private equity fund acquires 90 percent of the Florence-based firm.

Trapani has been named executive vice chairman of the Italian private equity firm.