15 hours ago
Italian fashion supplier Altofare enters talks with creditors as sector slows
Owned by private equity firm White Bridge Investments, Altofare oversees a network of Italian manufacturers serving the luxury fashion industry. The group includes companies specializing in buttons, metal finishes, resins, and jewelry components—among them Lampa Srl, known for its shoe accessories and hardware.
The luxury sector has faced mounting challenges in recent quarters. According to the latest Bain & Co. report, global personal luxury goods sales are expected to contract by 2% to 5% this year, following a flat performance in 2024.
Altofare's debt was issued via Lampa and is due to mature between 2028 and 2029. However, the company must make semi-annual amortization payments, as outlined in its most recent annual report.
Earlier this year, Bloomberg reported that Altofare had entered discussions with creditors to restructure its obligations. The company joins a growing list of luxury suppliers navigating financial strain.
Other players in the sector, including MinervaHub SpA, are also in talks with creditors to revise their debt terms—highlighting ongoing pressure across the luxury manufacturing chain.
