Made in Italy Fund Acquires Majority Stake in Accessories Brand Rosantica
Made in Italy Fund will boost the international business of Rosantica with a focus on the US.
The fund targets small to medium sized companies with growth potential in the fashion, design, beauty and food areas, with the goal to enhance the Made in Italy chain. This is its second acquisition after buying in fall 2018 a majority stake in 120% Lino, a brand that specializes in the production of linen and natural fiber apparel.
The deal aims to boost the international retail and e-commerce business of Rosantica, which already sells its collections at prestigious department stores and e-tailers, including Harrods and Browns in London; Saks Fifth Avenue and Neiman Marcus in the U.S., and Lane Crawford and On Pedder in Asia, as well as Net-a-porter, Matchesfashion and LuisaViaRoma.
“Made in Italy Fund has a clear and simple goal: to find the finest of Italian fashion, beauty, home décor and food and support them in becoming more successful internationally,” said Mauro Grange, who is already chief executive officer of 120% Lino and will take the same role for Rosantica. “To achieve this ambitious goal we have raised over 200 million euros and assembled a team of professionals that will provide the companies that are part of Made in Italy Fund all the necessary tools and resources available. The acquisition of Rosantica is the perfect example of our search for unique talent: a leading Italian brand that is known internationally and yet it still has further growth potential.”
According to Grange, the United States is the most important target for Rosantica’s international expansion. “Rosantica will work collaboratively with our brand 120% Lino in the U.S., where we are already present with seven stores and an additional four new openings in Florida and California by the end of 2020,” Grange added.
“Rosantica is my creation, my pride; from a small artisanal company to an international brand loved by celebrities. For Rosantica this partnership with Made in Italy Fund opens greater possibilities for future collaborations and the sharing of ideas and projects that will help us grow and convey the value of Made in Italy throughout the world,” said Panero, who will remain at the creative helm of the brand. “I have great faith in this collaboration with Mauro Grange and I believe that our partnership will lead us to a future rich with great success while keeping the strong DNA of the brand.”