De Fonseca, the big Italian supplier of slippers and sandals, has changed hands once again. Star Social Responsible Fund, an Italian investment fund managed by Efibanca Palladio Finanziaria, has taken over 100 percent of the equity from another local fund, IF Investimenti. Following the takeover, De Fonseca’s long-time CEO, Carmelina Magnano, will have an undisclosed stake in the company, too. She became chairman of the board last July 29. The managing director recruited last year, Marco Messini, left the company a few months ago. De Fonseca reports an operating profit of about €6.3 million in 2003 on revenues of more than €41 million, more than 80 percent of which come from Italy. Slippers represent about 30 percent of sales.