MIP invests in shoe designer Manebí

MIP deployed capital from its MIP I fund, which was launched in December 2017 with a €100m target. The vehicle invests in European companies operating in the lifestyle sector with a technology and digital angle, and mainly focuses on the fashion, food and design industries. The GP told Unquote that it expects to reach a final close in June 2019.

This is the fifth deal inked by the fund, following its investments in Milan-based restaurant chain Miscusi, Spanish online flower delivery startup Colvin, Italian handcrafted shoe designer Velasca and Berlin-headquartered smart luggage producer Horizn Studios.

With the GP's support, Manebí plans to consolidate its market position, further develop its international retail network and broaden its product offering. In addition, the company expects to open its first international mono-brand store in Ibiza and launch a line of beachwear this summer, as well as generate a 50% increase in its turnover by the end of the year.

Company
Founded in 2013 and headquartered in Milan, Manebí specialises in producing shoes, primarily espadrilles, which are designed in Italy and handmade in Spain by local craftsmen. The company sells its products in 300 shops and department stores worldwide and in seven mono-brand stores located across Italy, as well as via its e-commerce platform. It generated revenues of €3m in 2018.

People
Milano Investment Partners – Paolo Gualdani, Stefano Guidotti, Igor Pezzilli (partners).
Manebí – Antonello Benati, Vera Drossopulo Bogdano (co-founders).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Italy