Missoni, the Italian Fashion House, Enlists Rothschild for Potential Sale Consultation

20 Nov, 2023

Missoni, the Italian Fashion House, Enlists Rothschild for Potential Sale Consultation

Reports confirm that Missoni, the renowned Italian fashion house, has engaged Rothschild as its financial adviser to assess the potential sale of the family-controlled company. Sources closely tied to the matter disclosed this development on Friday.

The founding family continues to maintain control over Missoni, retaining a 59% ownership stake in the brand recognized for its vibrant and distinct designs. In 2018, the Italian investment fund FSI injected 70 million euros into the fashion house, securing the remaining 41% ownership.

While the Missoni family is open to exploring various possibilities, including a complete divestment of their stake, no definitive decision has been reached regarding a potential sale, as stated by one of the sources familiar with the situation.

Expressions of interest from prominent luxury conglomerates during the summer prompted Missoni to consider a potential sale, leading to the decision to investigate this possibility with the aid of a financial adviser, according to a separate source.

Although no formal sale process has commenced, the company has undertaken preliminary groundwork necessary for such a move, as mentioned by one of the initial sources involved.

During an online event in October, Missoni's Chief Executive, Livio Proli, highlighted the potential advantages of being part of a larger luxury group. Proli emphasized the brand's commitment to maintaining its unique craftsmanship, whether continuing independently or as part of a larger entity.

In an August newspaper interview, Proli projected a rise in revenues, expecting them to reach 125 million euros ($135.84 million) for the current year, an increase from 115 million euros in 2022. The adjusted core profit was estimated to be around 5 million euros last year.