The Italian-French fashion brand Giambattista Valli is reportedly going through a difficult period that could lead to its closure in the worst case scenario. According to the Italian daily newspaper Il Foglio, the reason for this is debts that far exceed the label’s sales. “We don’t know if we’ll make it until spring,” a company manager told the newspaper.
The accumulated liabilities represent a significant burden and therefore significantly exceed sales. Valli reportedly has until the end of January to find a buyer to take over the brand from the Pinault family. FashionUnited has reached out to the brand for comment on these reports.
According to a report by investigative digital publication Glitz Paris, the fashion house’s losses last spring amounted to tens of millions of euros. The report suggested that these losses would be covered by the Pinault family at the beginning of 2025.
Artémis was founded in 1992 when François Pinault decided to transfer his majority stake in PPR to the fund. PPR was founded in 1963 and renamed Kering in 2013. The aim was to create a lean structure as a family investment vehicle to invest in companies with high growth potential.
Artémis has since acquired numerous prestigious investments. In addition to Giambattista Valli, the portfolio includes a 42.3 percent stake in Kering, a 28.52 percent stake in Puma and the fashion house Courrèges, in which Artémis became the majority shareholder in 2018.
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