Diesel Founder Acquires Majority Stake in Paula Cademartori
The purchase has been made through the investment company of Renzo Rosso, called Only the Brave (OTB).
Renzo Rosso has announced the acquisition of a majority stake in the Brazilian accessories company Paula Cademartori. The purchase has been made through the investment company of the founder of Diesel, called Only the Brave (OTB). It has not made public the amount of the transaction.
Paula Cademartori is a small Brazilian company that a couple of years ago put the focus on the Italian market and has already succeeded in turning the firm, founded in 2011, in a business cult for young shoppers. Its bags are its best-known article, with prices starting from $1,000.
Although there is no actual data, the market estimates that the company annual sales are about $5 million. The company sells its products in about 160 third-party establishments worldwide. Meanwhile, OTB controls Diesel and other Italian luxury brands like Marni and Martin Margiela.
The news is positive for both sides. Paula Cademartori get the support of a large, global company that will allow it to extend its network, especially in the United States, as well as open its first flagship store, although they have not confirmed its location. Meanwhile, OTB takes control of a recognized firm with a strong potential for a reduced price, as the acquired comes when it is still a small company.
Disclosure: The Luxonomist is not responsible for the views expressed in the article. The text has been written freely expressing their own ideas, without receiving any compensation. The author has no business relationship with any of the companies whose shares are listed in this article.
