The Italian jacket brand Save the Duck has changed hands. Reinold Geiger and André Hoffmann, chairman and CEO of cosmetics group L’Occitane International SA, have acquired a majority stake in the company, Save the Duck announced on Wednesday. Geiger and Hoffmann previously held a minority stake in the company.
Nicolas Bargi, founder of Save the Duck, will continue in his position as Managing Director. ER will retain 20 percent of the company, while Geiger and Hoffmann will jointly own 80 percent of the brand.
L’Occitane top executives new owners of Save the Duck
“Reinold Geiger and I look forward to working with Nicolas Bargi and his team to take Save the Duck to the next level of international growth,” said Hoffmann of B Corp status was an important factor in our decision to invest in the company.Special thanks also go to the Progressio SGR team […] for the collaboration and immense support they have shown to Save the Duck management over the years.” Progressio SGR was previously one of the company’s minority shareholders. Geiger added, “Under the leadership of Progressio SGR, Save the Duck has achieved its Sales doubled, now it’s our turn to rise to the challenge.”
Save the Duck makes jackets from a down alternative. The company uses heat-insulating technical padding that mimics the softness of real down while retaining the benefits of thermal padding.
This translated post previously appeared on FashionUnited.nl.