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ITALY - Stroili Oro Group partners with Upim

  • Angelica Mari
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Jewellery business Stroili Oro Group has recently signed an agreement with department store chain Upim to sell an 'accessible' line in its 50 shops, based all over Italy. Rumour has it that both businesses have planned a tailor-made approach to the alliance, worth approximately EUR 20m. The offer will be based on 50% jewellery, 30% of items in gold, silver and steel and 20% of watches.

Buyout firm Investindustrial, coinvesting with 21 Investimenti, Banca Intesa and Wisequity purchased a 65% stake in Stroili Oro last summer in a deal worth around €180m. The sellers, L-Capital and Ergon Capital Partners, have reinvested and currently own a 35% stake in the business. The jewellery group is forecasted to receive returns of EUR 230m this year.
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