The Italian men’s fashion label Magliano is breaking new ground. On Wednesday, the apparel retailer announced a comprehensive strategic partnership with Milan-based business accelerator Underscore District. The company, formerly known as Impossible Brands, specializes in providing financial and operational support and advice to emerging fashion and design brands. His portfolio already includes the shoe and accessories label Plumestudio and the Milan concept store Wok Store.
As part of the partnership, Magliano will be split into two companies, according to a statement. One will hold the trademark rights and continue to be majority owned by Magliano, while Underscore District will have a “significant minority interest.”
The second company, on the other hand, is controlled by Underscore District and handles the sales and marketing of the fashion brand. The textile manufacturer Arcari e Co. also has a stake in this company and will continue to be Magliano’s most important production partner under the existing license agreement.
Luca Magliano, the creative director of the label he founded in 2016, explained the background of the new partnership: “After years of work, great satisfaction and the achievement of goals that we never thought possible, we have a reliable partner in Underscore District found who shares our strategy and values and can support us in an important growth phase,” he said in a statement. An important step is already imminent: the brand wants to open its own online shop in January.