L Capital, the private equity form sponsored by French fashion and luxury giant LVMH, bought another 51% stake in Dondup, the Italian fashion wear brand founded by Massimo Berloni e Manuela Mariotti (creative director), where the fund already owned a 40% stake since 2010. The deal was made through L Capital Asia fund,
The deal is said to be worth about 60 million euros, Il Messaggero newspaper anticipated last April, as the fund paid the 51% stake about 25 million euros while refincned a 35 million euros loan issued to the company by Mr. Berloni.
More in detail, L Capital Asia acquired 51% of the capital of Arcadia srl, Dondup’s parent company where now the founders own a 9% stake and LCapital the remaining 40%. So that funds by L Capital now own a 91% in Dondup.
Launched as an innovative denimwear manufactured, Dondup developed its offer to a total look both for men and women. The company reached 51 million euros in revenues last year with 11 millions of ebitda and targets 85 million euros in revenues in three years’ tiime of which 50% from exports (up from actual 30%).
This new stage in the company’s history will be led by new ceo Carlo Morfini, with former experiences as a manager in Marni, Gruppo Tods and Borbonese. Mr. Morfini will substitutes in the role Mr. Berloni, who in turn is appointed chairman of the company.
