L Capital buys stake in Vicini

The company will use the fresh funding to boost its presence in international markets.

L Capital Management closed its latest vehicle on €400m in 2012, exceeding its €350m target. Established in 2001, the GP is sponsored by LVMH Group. L Capital Asia has offices in Singapore, Shanghai and Mumbai.

According to unquote" data, investment in Italian clothing and footwear companies hit a five-year high in 2013, which saw nine such transactions. Notable deals included Argos Soditic's acquisition of Via Delle Perle in July, Trilantic Partners Europe's investment in Betty Blue and Capvis's acquisition of swimwear brand Arena from Riverside.

On the exit side, Italy was home to the strongest market debut of the year thanks to the successful listing of luxury jacket maker Moncler. 

The trend has continued this year, with Blackstone taking a minority stake in Versace, beating rival interest from several international buyout firms.  

Company
Founded 20 years ago and based in San Mauro Pascoli, Vicini is a luxury shoemaker and owner of the Giuseppe Zanotti brand. The company also makes shoes for brands including Balmain and Christopher Kane.

Vicini employs 550 staff and has five production plants in Italy with showrooms in Milan, New York and Paris. The firm has a network of 85 stores globally and achieved a turnover of €115m in 2013.

People
Andrea Ottaviano is a partner at L Capital Management.

Advisers
Company – Rothschild (Corporate finance).
Equity – DVR Capital (Financial due diligence).

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• Topics
• Southern Europe
• Consumer
• Expansion
• Italy
• L Capital Management