If you haven’t already heard, Italian shoemaker Bruno Magli isn’t doing too well.
That’s why Marquee Brands, a brand acquisition company set up in September by the New York-based private equity firm Neuberger Berman, is here to save the day.
How, you ask? By acquiring them.
Marquee Brands LLC just announced it has reached a definitive agreement to acquire the Bruno Magli® brand and related intellectual property assets from Bruno Magli SpA. The transaction is expected to close in early 2015.
Bruno Magli has been producing ready-to-wear fashion footwear and accessories for men and women since 1936, so a new strategy to save its brand may just be exactly what they need to bring the dying brand back to life.
Cory M. Baker, chief operating officer of Marquee Brands, said Bruno Magli will the brand acquisition firm’s “first jewel in the crown of a growing portfolio.”
“Rarely do brands with the stature of Bruno Magli become available with an untapped opportunity to market, expand and grow into a lifestyle brand,” he said. “We have a thorough brand strategy already created that will allow it to naturally develop into new categories.”
While Bruno Magli’s corporate office will be based out of the New York headquarters of Marquee Brands, the core footwear and leather products will continue to be designed in Bologna and made in Italy “in order to maintain the integrity and artisan workmanship,” according to Marquee executives.
The post Bruno Magli is Getting Acquired appeared first on FashInvest.