The investment fund will create a NewCo that will invest 7 million euros in the luxury men’s brand.

A formal offer has not been submitted yet.

Ceo Giorgio Brandazza said majority stakeholder Investcorp might look for potential investors to guarantee a brighter future for the brand.

The Italian government will enter in the capital of the company through a 10 million euro investment.

The luxury men’s wear company was acquired by Bahrain-based investment group Investcorp in 2016.

Giorgio Brandazza succeeds Luigi Ferrando at the storied Italian men’s wear company, after only one year into the job.

The trade unions organized a two-day strike to protest the company’s decision.

The collection riffed on the house’s seventies archives, while the brand also presented its first eco-sustainable collection: Circle.

See all the looks from the show

Coats were a key focus at the Italian luxury label.

At the storied Corneliani brand, Paolo Roviera is succeeded by Luigi Ferrando, who hails from the furniture industry.

The e-commerce represents the company’s first foray into the U.S. direct retail arena.

From the return of Corneliani to a focus on Finnish designers, the show will offer brands in a variety of categories.

Karl Lagerfeld and Corneliani are among the brands returning to the trade show, which will boost the number of special projects, shows and events.

Upgraded product, a new retail design, e-commerce site and enhanced social media are all in the works.