ITALY: IPO values Brunello Cucinelli at EUR527m
High-end Italian clothier Ermenegildo Zegna and fashion retailer Benetton Group SpA have both bought shares in luxury fashion firm Brunello Cucinelli SpA, which this week completed an initial public offering in Milan.
Cashmere specialist Cucinelli described its IPO as an "enormous success," with the final price set at EUR7.75 per share - which is at the top of the planned range. It said the order book was 17 times higher than the available shares. Benetton bought a 2% stake in the firm, while Ermenegildo Zegna took 3%.
The offer means the new company, which will debut on the Milan bourse on 27 April, will have a market capitalisation of EUR527m (US$697m).
Brunello Cucinelli, which was founded in 1978, employs over 700 people and in 2011 saw its net turnover rise 19% to EUR243m. 70% of its sales were achieved overseas, and EBITDA soared 68% to EUR40m.
UK-based fashion footwear and accessories retailer Dune Group is partnering with Reliance Brands on an exclusive long-term franchise agreement in India....
Global fashion brand United Colors of Benetton is set to implement a new core body size standard and fit strategy based on an in-depth body shape analysis of its target customers....
- Supply chain takeaways from Sourcing at MAGIC
- Cotton supply chain transparency an ongoing issue
- Why voters don’t want more global supply chains
- No simple way to be sustainable, says SAC CEO
- Denim and athleisure top picks for back-to-school
- H&M takes action over Myanmar child labour breach
- Vietnam garment industry calls for strategy update
- US Q2 in brief - Sears, Burlington, Tilly's
- Zara USA faces US$5m deceptive pricing lawsuit
- Li & Fung eyes supply chain speed in 3-year plan
- Too Many Standards
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Under Armour, Inc. (UA) - Financial and Strategic SWOT Analysis Review
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras