Sumary of LVMH-backed fund to buy majority stake in Italian luxe label Etro:
- Published Jul 18, 2021 Reading time 2 minutes Download Print Text size aA+ aA- Published Jul 18, 2021 Etro is looking to future-proof its business and on Sunday revealed a “strategic partnership” with L Catterton Europe that it said will be the “start of a new phase of growth”.
- See catwalkEtro – Spring-Summer2021 – Womenswear – Milan – © PixelFormulaThe luxury fashion company has entered into a binding agreement to partner with the biggest global consumer-focused private equity firm as L Catterton Europe takes a majority stake in the company, said to be around 60%.
- Etro, which was founded in 1968 as a textile firm and is still known for its prints, now makes womenswear, menswear, accessories, beauty/fragrances, and home goods.
- The company said that “by leveraging L Catterton’s deep investment expertise, category knowledge, consumer insights, and strategic relationships with LVMH, Etro will be poised for significant growth to become one of the leading high-end brands across product categories”.