Italian perfurmeries chain La Gardenia Beauty bought 27 shops and the brand of Beauty Point, an Italian small perfurmeries chain with strong presence in Center and Southern Italy that was involved in an insolvency proceeding, MF-Milano Finanza writes today.
Interviwed by the newspaper, Fabio Pampani, ceo of LLG, Leading Luxury Group, a 50-50 joint venture by La Gardenia Beauty spa and Limoni spa, both chain being controlled by Orlando Italy private equity fund, said that “Beauty point owns very good locations in the Region of Lazio and the company was able to reach 20 million euros of revenues just few years ago”. Pampani also said that “the total value of the deal is about 15 million euros, including the acquisition price, restructuring, goods in stok and the change of sign. Actually all the 27 shops will be rebranded La Gardenia by the end of December”.
The agreement with the Court also includes the hiring of 126 workers from Beauty Point to La Gardenia. Thanks to the deal, LLG now counts more than 600 shops all over Italy and reaches about 400 million euros in revenues with a 55% of the market of retail chains and 23% of the market of selective beauty.
LLG Leading Luxury Group was founded in December 2013 after Orlando Italy bought La Gardenia spa. Oralndo was already the owner of Limoni spa, an other Italian leading perfurmery chain. The fund is focused on turnaround an special situation deals. The two companies and their retail chains mantained their own identity but benefit of common strategies.
