Two units of Mariella Burani Fashion Group (MBFG), Antichi Pellettieri and Francesco Biasia, have signed agreements to produce shoes and leather goods for Aquascutum. AP will produce and distribute a collection of men’s shoes, which will be followed by a women’s line, while Francesco Biasia will manufacture and distribute Aquascutum branded leather accessories.
Meanwhile MBFG has sold for €75 million its multi-brand retail division, which controls 97 multi-brand stores, to the private equity fund Abacus Invest, preferring to focus instead on the development of leather goods and fashion jewellery as well as its network of mono-brand shops because they generate higher margins.
The multi-brand division includes Revedi, which operates 37 stores in Italy and five in Switzerland; Bernie’s with 17 stores in Switzerland; and Don Gil with 38 points of sales in Austria. The division generated €118.6 million in sales last year.
MFBG will reinvest €15 million in a company that Abacus Invest will set up to buy these retail operations. Anyhow the deal is expected to generate a capital gain of €13 million for MBFG and give it additional resources to continue its aggressive expansion strategy.