A reorganization of the shareholder structure is imminent at Etro, apparently without the founding family.
Gefin, the holding company of the founding family, is to sell its stake to the Turkish Rams Global, reports the daily newspaper MFF. L Catterton will reduce its stake to 51 percent. At the same time, a consortium led by Mathias Facchini from Genny and the Sri Group with Giulio Gallazzi are to invest in the capital of the Milan fashion house. According to the Milan daily, the transaction is expected to close tomorrow.
Rams Global is responsible for the Rams Beyond Istanbul project. These are residences with Bosphorus views, covering an area of 11,700 square meters. The project includes 471 apartments of various sizes under the Etro Residences brand.
FashionUnited has contacted Etro for comment.
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