Style Capital has inked an agreement to buy a majority stake in sneaker brand Autry.
On Saturday, the Milan-based private equity fund said it has inked an agreement with Autry International to buy a 50.2 percent stake in premium sneaker brand Autry. Style Capital is buying Autry from The Made in Italy Fund and the brand’s founders, the Doro familyThe transaction value is pegged at around 300 million euros. The Made in Italy fund will reinvest a share of 8 percent and the Doro family will retain a 42 percent share.
The objective of Style Capital is to consolidate “this rapid growth, laying the foundations for a sustainable long-term and internationally growth path,” said Roberta Benaglia, founder and chief executive officer of Style Capital. “The dream, as it was for is always to identify a winning product and transform it into an iconic brand, invest in storytelling and brand awareness, never neglecting product innovation.
The agreement will kick off a retail expansion in Italy and outside the country, with the opening of more thn 20 monobrand stores in key luxury locations, continuing the digital channel development, and consolidating wholesale distribution internationally.
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