Kallisté, the Italian footwear company owned by the eponymous company located near Piacenza, has been acquired by another Italian company, Mima, situated in the Veneto area, which produces two luxury brands under license – Etro and Clements Ribeiro – as well as its own label. Two elements that helped Mima clinch the deal from other contenders were the fact that it agreed to acquire all three footwear brands – Kallisté, Keyté and Un dimanche à Venise – and the entire retail chain, which consists of a directly-owned Milan store and 7 franchise outlets.
The worldwide distribution of these lines will be managed by the office of Massimo Bonini in Milan, which already markets Etro and other collections. The decision to sell off Kallisté’s remaining assets was taken following the death of Giacomo Rossi, the company’s founder, about a year ago. Kallisté, which generated an annual turnover of around €20 million, already shut down all its facilities a few months ago, as reported, laying off also its sales staff.
The acquisition will give Mima, controlled by the Doni family, the strategic advantage of controlling some important brands. The acquisition has tripled its turnover from €5 million to the current figure of €15 million, with overall growth of 13 percent forecast for 2005 thanks to the various brands’ performance on international markets such as Japan and Russia. Clements Ribeiro and Etro – Mima’s license for the latter brand began with the current Fall/Winter 2005/06 season – are both doing particularly well, and should contribute substantially to a further 20 percent increase budgeted for global sales in 2006.
Mima has announced plans to develop the retail distribution of its new trio of brands, currently sold in 400 multi-brand outlets worldwide including Neiman Marcus, Isetan, Bosco dei Ciliegi and Barneys. Company-owned stores are scheduled to open next year in Paris and London. There are also plans in the pipeline to extend the range under the Kallisté banner, with a collection of bags produced under contract going on sale at the beginning of next year, while a Kallisté footwear line for men should be launched in the second half of 2006. The new collections will be designed by Mima’s in-house team, which has taken on some of the previous designers of Kallisté. A ready-to-wear collection that had previously been announced and then put on hold is now back on schedule.