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....
- Yuan devaluation impact mixed for garment firms
- Will Vietnam struggle with impending trade deals?
- Nicaragua apparel and shoe firms to double in size
- The new age of disruption on apparel production
- Supply chain improvements to save Billabong $30m
- H&M scaling up living wage effort to key suppliers
- Myanmar approves first minimum wage
- US Q2 in brief: G-III, Shoe Carnival, J Crew
- EU clothing buyers should brace for higher prices
- PVH “well-positioned” in China despite headwinds
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Ethiopia – the emerging textile and clothing industry
- Global market review of lingerie - forecasts to 2020
- Global market review of denim and jeanswear – forecasts to 2020