The parent company of Italian womenswear brand High has a new owner. The investment company Strava Srl has taken over all shares in Rimini-based Interfashion SpA, the company announced on Thursday. Financial details of the transaction were not released.
The textile manufacturer Interfashion, founded in 1992 and initially working under license for well-known fashion houses, is now concentrating entirely on its High label, which was launched in 2006 and currently has 20 of its own stores in Europe. According to its own statements, the company generated sales of 26 million euros last year.
The takeover by the investor Strava, which was founded by the Italian businessmen Giuseppe Stefanel, Giulio Corno and Alberto Vacchi, is “another important step” in Interfashion’s strategic planning, the company explained. The goals are to increase brand awareness of High, to expand its presence “in new and existing markets” and to expand the group’s business areas in the medium term, according to a statement.