21 Investimenti buys Italian sneaker maker Philippe Model

According to a source familiar with the situation, 21 Investimenti acquired a 70% stake in the company from the existing shareholders and founders Paolo Gambato and Roberto Doro.

As part of the deal, the current management team will retain places on the company's board, while 21 Investimenti will nominate a new CEO with experience from the luxury goods sector.

The GP intends to support the company's growth through an expansion plan that involves opening flagship stores in several capitals across the world and enlarging the company's portfolio to new products.

The deal marks the first transaction in the Italian fashion segment for the GP.

Company
Headquartered in Vigonovo, near Venice, Philippe Model produces luxury shoes. Established in 2008, the company posted a turnover of €100m in 2015 and claims to generate 50% of its revenues from outside Italy.

People
21 Investimenti – Alessandro Benetton (founder, managing partner).
Philippe Model – Roberto Doro (general director); Paolo Gambato (founder).

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• Topics
• Buyouts
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• Southern Europe
• Italy
• 21 Investimenti