Italian fashion house Liu Jo might list on the Italian Stock Exchange or find a new partner. This is not a new rumor as last Spring Liu Jo was one of the Italian companies said to be preparing an ipo but this time rumors are more detailed.
Actually a few days ago Reuters wrote that Liu Jo’s founding brothers Marchi have different plans for the company. Vannis Marchi, 67, is looking to sell his 36.8% stake in the Italian firm, while his younger brother Marco, 52, owns 50.8% and intends to stay onboard as a majority shareholder
Liu Jo could be valued at up to 500 million euros, included debt, or 10 times its expected 2014 ebitda of about 50 million euros. In 2013 the comany reached 281 million euros in revenues and revenues in 2014 should have grown to about 300 millions. Liu Jo might be a good target for private equity funds who have experience in the fashion sector such as Clessidra, Carlyle or Permira.
Liu Jo, based in the central Italian town of Carpi, employs 550 people and operates around 240 stores worldwide, primarily in Europe and Asia. It was launched as a textile business in 1995 and later developed into a major pret-a-porter brand, with advertising campaigns featuring Kate Moss and Dree Hemingway.