Massimo Berloni, CEO of Arcadia s.r.l. and owner of the Dondup brand, announced the sale of a 51 per cent stake of Dondup to L Capital Asia, a private equity fund which is part of the LVMH Group.
L Capital Europe, L Capital Asia’s twin fund, have already owned a 40 per cent stake of Dondup since 2010.
The Dondup brand was created in 2000 by Massimo Berloni (who holds an eight per cent stake of Dondup) and Creative Director Manuela Mariotti.
In 2014, the company posted a turnover of €50m, a good financial result partially due to its international expansion over the last five years (in 2014, exports accounted for 28 per cent of total revenues).
Dondup employs 80 people directly, divided between offices in Fossombrone (Central Italy), Milan and Germany.
Building on these results and on the opportunities offered by the new shareholding structure, the company will now enter a new phase, focusing on international expansion while developing the mono-brand retail channel, both in Italy and abroad.
Ravi Thakran, Chairman and Managing Partner of L Capital Asia said:
“We strongly believe in this brand and in the great potential of its innovative stylistic contents in the Asian markets. As L Capital Asia, we will be glad to support Dondup’s expansion in these new markets as a real expression of the Italian creativity”.
These are the pillars of the company’s industrial plan, whose main aim is to increase turnover by €35m over the next three years whilst increasing profitability.
L Capital and Massimo Berloni have called upon Carlo Morfini to spearhead this project. With his twenty years’ experience in the fashion and luxury sectors and after having contributed to draft the strategic plan, Mr. Morfini will take on the role of CEO.
“I accept this appointment knowing that the brand values that enabled brilliant business and economic results so far represent a solid base and a great starting point to bring innovation to the brand and the corporate business model”, said Carlo Morfini.
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