Missoni Sells Stake To FSI Mid-Market Growth Equity Fund; Backed By Italian Government

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Missoni Fall 2018 Ready-To-Wear.

MILAN —¬†High-end¬†Italian¬†fashion house¬†Missoni¬†has sold a minority stake of the family-owned business to¬†FSI Mid-Market Growth Equity Fund. (which involves the Italian government).

The fund will take a 41.2 percent stake and the Missoni family will continue to have control with 58.8 percent of the shares. The operation sees a capital increase and no financial debt for Missoni. Michele Norsa, industrial partner of FSI, will become vice president of Missoni. Angela Missoni will hold the role of president and her mother Rosita retain the title of honorary president.

The goal is to focus on international expansion, product extension and retail development in key markets.

Last year, the Italian government took a major stake in a new Milan-based sovereign fund being launched to support Italian companies, including in fashion.¬†FSI SGR, or Fondo Strategico Italiano (Italian Strategic Fund), set up a new fund called FSI Mid‚ÄźMarket Growth Equity Fund with the goal to support leading Made in Italy companies that share growth potential and the need to expand in international markets and fashion was understood to be a major area of interest for the new fund.¬†Former¬†Salvatore Ferragamo¬†and¬†Valentino¬†chief executive officer Norsa joined the fund as an industrial partner, providing his expertise in the areas of design, fashion, food and hospitality.

The latest figures reported consolidated sales in 2016 totaled 63.4 million euros. Of this, licenses corresponded to 10.9 million euros. The company counted five boutiques in Italy and six outside the country, as well as two outlets in Italy. Exports accounted for 74 percent of sales.

Missoni Fall 2018 Menswear.

Missoni Fall 2018 Ready-To-Wear.

Missoni Fall 2018 Menswear.

Photos Credit: Marcus Tondo / Indigital.tv

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.