to one fund the majority of the made in Italy maison – Corriere.it

The luxury maison Etro changes hands: the L Catterton Europe fund will acquire a majority stake in the made in Italy maison, with the Etro family maintaining a minority stake defined as significant in the press release announcing the binding agreement for a partnership with L Catterton, the largest global private equity firm focused on the global consumer goods sector. The Italian family should remain 40% of the capital, with the founder, Gerolamo Etro, who will assume the position of president of the company. 60% will go to the L Catterton Europe fund participated by Financire Agache of Frenchman Bernard Arnault, also owner of LVMH.

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New phase after 55 years

My family and I are proud to have made Etro a brand of excellence that has conquered customers and admirers from all over the world, commented the founder and president Gerolamo Etro after the announcement of the sale of the company. L Catterton has expressed great appreciation for our history, our product and our vision, sharing our same approach to partnership. After almost 55 years at the helm of the brand, we believe that the collaboration with L Catterton will start a new phase of growth and consolidation of Etro’s role among the longest-running and most prestigious fashion brands.. We are excited to work with the L Catterton team who will bring their deep knowledge of the fashion segment and proven experience in the international development of major brands, allowing our reality to reach new heights. We are honored to welcome such an iconic fashion brand to the L Catterton family and we are delighted to collaborate with the Etro family for the next phase of its evolution, said Luigi Feola, managing partner and responsible for Europe of L Catterton. We are confident that with our extensive global network and our experience in building fashion brands, Etro will be well positioned to become an international brand and industry leader.

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