ITALY: PPR completes Brioni acquisition
French luxury goods group PPR today (12 January) said it has completed the recently-announced acquisition of high-end Italian tailor Brioni, following clearance from antitrust authorities.
The deal will see PPR acquire 100% of Brioni's share capital. Speaking in November last year, PPR CEO and chairman François-Henri Pinault said: "Brioni boasts top quality craftsmanship and is synonymous with Italian masculine elegance. It is the reference in ready-to-wear and bespoke menswear and I am delighted that it is joining our magnificent portfolio of luxury brands.
"We have great ambitions for this fashion house. We will give it access to our expertise and know-how, so that it can write a new page in its history while continuing to preserve its identity."
The company was founded in 1945 by Nazareno Fonticoli and Gaetano Saviani, and as well as men's wear, its range includes fragrances, accessories and leather goods.
The company is well-known for its "made in Italy" craftsmanship, with workshops located in Penne in the Abruzzo region of Italy. In 1985, Brioni created the Nazareno Fonticoli Scuola Superiore di Sartoria tailoring school and is also a partner of London's Royal College of Art.
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