The Italian luxury group is acquiring and internalizing the e-commerce company Italiantouch for 25 million euros to develop an omnichannel business.
The ugly sneaker trend might be more than a purposeful eyesore. It’s raking in revenue for brands eager to cash in on the ath-leisure trend and sneakerhead culture.
The capital increase backed by venture capital firms Milano Investment Partners and P101 will help the start-up company’s expansion.
The U.S.-based holding company and Italian investment firm Panda Srl now own a majority stake in P448.
Luxury Shoe Club is a blending of three models: share economy, online luxury consignment and membership-point programs.
The deal will help bankrupt Nine West Holdings restructure its balance sheet to focus on its more profitable businesses.
The Italian footwear label, which has just released its first pre-collection, is inaugurating its first North American showroom in late July.
Limited to 1,200 pairs, the collection is available exclusively at KaDeWe Berlin and Birkenstock online.