Italian luxury leather brand Bruno Magli has been sold to Swiss asset management firm Da Vinci Invest AG for an undisclosed sum.

Until now Bruno Magli, which specialises in women's and men's footwear, accessories and ready-to-wear, has been owned by UK hedge fund Fortelus Capital Management, which acquired the company in 2007. 

Dr Manfred Ebensberger has been appointed as the new CEO of Bruno Magli, replacing Armin Mueller, who has left the company. The existing management will continue to run the business, which will remain headquartered in Italy.

Ebensberger said that under the new ownership "we now look forward to the next phase of growth while preserving the values of distinctive design and workmanship, outstanding quality and strong heritage which are a fundamental part of the Bruno Magli identity."