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Etro Considering Buyout Interest From L Catterton

Etro Considering Buyout Interest From L Catterton

Etro Considering Buyout Interest From L Catterton

Italian fashion brand Etro is exploring potential interest from buyout firm L Catterton to drive its future growth.

L Catterton is an investment firm that emerged from a partnership between Catterton, LVMH and its billionaire owner Bernard Arnault.

The talks are still at a preliminary stage and no binding agreement has been reached so far, Reuters reported.

While Etro did not reveal any finer details, the family-owned Milanese company said it is “focused on creating the conditions for future business growth” and “possible partnerships to help this process are also being explored.”

The acquisition talks come at a time when the luxury fashion industry has seen an unprecedented decline in overall sales, leading to a string of mergers and acquisition deals. Recently, Moncler acquired Italian high-end streetwear label Stone Island, while Italian fashion group OTB acquired German label Jil Sander.

Etro, which is known for its colorful paisley patterns, was reportedly founded in 1968 by Gimmo Etro as a textile business. The company earned €16 million in core profit in 2019.

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