The private equity firm Style Capital is said to have acquired a majority stake in the sneaker label Autry International. This is part of their ongoing efforts to transform diverse brands into iconic names.
The Milan-based company is said to have secured a 50.2 percent stake in the brand, with the transaction value said to be around 300 million euros, according to industry magazine Women’s Wear Daily (WWD), which first reported on the potential investment.
The deal was completed with Pambianco’s Made in Italy fund and Autry’s founders, the Doro family, which will retain a 42 percent stake in the company. The Made in Italy fund, on the other hand, will reinvest a share of eight percent.
Roberta Benaglia, CEO and founder of Style Capital, told WWD that the company wants to consolidate Autry’s “rapid growth” while laying “the foundations for a sustainable, long-term and international growth path.”
The transaction will begin with a retail expansion in Italy and beyond, with plans to open over 20 mono-brand stores as well as the development of digital channels.
“Like Golden Goose [einer früheren Investition von Style Capital] “The dream is to identify a successful product and transform it into an iconic brand, investing in storytelling and brand awareness while not neglecting product innovation,” says Benaglia.
This translated post previously appeared on FashionUnited.com