ITALY: Mariella Burani Buys Stake In Rene Lezard
Burani said in a statement the German firm was founded 24 years ago and enjoyed sales of £73m in the fiscal year to the end of April which saw it post a net profit of $1.4m.
It added the acquisition would give it a base for expansion into Eastern Europe and Russia with co-founder Thomas Schaefer, who holds the other 50 per cent stake, continuing as chairman.
"By bringing into play existing synergies between the two companies, the entry of Rene Lezard into the Mariella Burani Group will contribute positively at group level from the first quarter of 2003," Burani said.
The German fashion house employs around 460 people and makes men’s and women’s fashions, accessories, eyewear and perfumes.
Help test our new apparel sourcing tool.
- Unlocks for the future fashion sourcing landscape
- EU eyes mandatory due diligence for apparel supply
- Geo-political uncertainty and how to survive it
- What TTIP might mean for US, EU textiles & apparel
- Where next for Corporate Human Rights Benchmark?
- Li & Fung forms supply chain partnership with PVH
- US Q4 in brief – Finish Line, Oxford Industries
- Sears has "substantial doubt" of future
- World Bank commits $57bn to sub-Saharan Africa
- Target unveils "ambitious" store re-design plans
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective