Latest news with #PatrizioBertelli
Yahoo
3 days ago
- Business
- Yahoo
Patrizio Bertelli, Francesco Milleri, More Fashion Execs Receive Cavaliere del Lavoro Honor in Italy
HIGH HONOR: A range of fashion entrepreneurs and executives have been bestowed with the 'Cavaliere del Lavoro,' or 'Knight of Labour,' honor in Italy. They include Prada Group's chairman and executive director Patrizio Bertelli; Francesco Milleri, chairman and chief executive officer of EssilorLuxottica; Alfonso Dolce, chairman and CEO of Dolce & Gabbana; Maria Giovanna Paone, chairwoman and co-CEO of Kiton's parent company Ciro Paone, as well as Salvatore Ferragamo chairman Leonardo Ferragamo. The latter was recognized for his hospitality business, as president of the Lungarno Collection luxury hotel chain. More from WWD EssilorLuxottica Expands Med-tech Strategy With Acquisition of Ophthalmology Platform Optegra Consortium Including Anne Hathaway, Gian Luca Passi de Preposulo Invests in Italy's SailGp Team Aubrey Plaza Brings Breezy Daytime Glam to Cannes with Sheer Blouse and Strappy Prada Sandals at 'Honey Don't!' Photocall Also in the fashion and design categories, the honor was bestowed upon Anna Beatrice Ferrino, CEO of the namesake textile company, and Federica Minozzi, CEO of tile-maker Iris Ceramica Group. Established in 1901 by King Vittorio Emanuele III, the title is one of the highest recognitions bestowed by the president of the Italian Republic, currently Sergio Mattarella, and recognizes 25 Italian entrepreneurs who have distinguished themselves in different sectors of the economy and contributed to social development, employment, technology and the growth of Made in Italy. In receiving the honor, the cohort follows in the footsteps of other fashion industry personalities including Pietro Beccari, chairman and CEO of Louis Vuitton; Ferruccio Ferragamo; Remo Ruffini, chairman and CEO of Moncler; Federico Marchetti; Gildo Zegna, chairman and CEO of the Ermenegildo Zegna Group; Rosita Missoni; Claudio Marenzi, president and CEO of Herno; Roberto Colombo, president of Lanificio Luigi Colombo, a producer of cashmere and high-quality fibers, and Alberto Barberis Canonico, CEO of the Italian high-end woolen mill Vitale Barberis Canonico, established in 1936 on the outskirts of Biella, among others. Best of WWD Young Brooke Shields' Style Evolution, Archive Photos: From Runway Modeling & Red Carpets to Meeting Princess Diana The Most Memorable French Open Tennis Outfits With Serena Williams, Naomi Osaka & More [PHOTOS] Beyoncé's 'Cowboy Carter Tour' Outfits, Live Updates: Schiaparelli, Burberry, Loewe and More
Yahoo
3 days ago
- Business
- Yahoo
Prada Group Bolsters Vertical Integration With Strategic Stake in Rino Mastrotto Group
MILAN — Prada Group continues to invest in Italy's pipeline and in the company's vertical integration. On Thursday, the Italian luxury group said it has acquired a 10 percent stake in leading tannery Rino Mastrotto Group. More from WWD Sabrina Carpenter Teases New Prada Beauty Product in Her 'Manchild' Music Video Patrizio Bertelli, Francesco Milleri, More Fashion Execs Receive Cavaliere del Lavoro Honor in Italy Capri Holdings Plots Turnaround After Steep Q4 Losses Under the terms of the agreement, Prada has taken full control of tannery Conceria Superior SpA and Tannerie Limoges S.A.S., and is contributing in kind 100 percent of the two companies to Rino Mastrotto Group. In addition, Prada is making a cash investment in a minority stake in Rino Mastrotto Group, which allows it 'to strengthen its control over a highly strategic phase of the production process,' said chairman and executive director Patrizio Bertelli. 'Our groups share a passion for quality, innovation and sustainability; we are proud to foster synergies and promote consolidation along the value creation chain and the Made in Italy.' Rino Mastrotto Group is a global provider of materials and bespoke services for the luxury industry. The transaction, which is expected to close between the end of the second quarter and the beginning of the third quarter, contributes to fostering long-term industrial development and reinforces the commercial relationship between the two groups. The agreement 'reflects our ongoing commitment to investing in the luxury segment,' said Matteo Mastrotto, chief executive officer of Rino Mastrotto Group, which is jointly owned by Renaissance Partners and the Mastrotto family. 'Having Prada Group as a shareholder is a testament to a long-standing collaboration built on trust and enhances our industrial vision to ensure sustainable growth.' Rino Mastrotto Group employs more than 1,300 people across five continents and generates a turnover of approximately 360 million euros. Under its umbrella, several companies and brands operate within the luxury segment, including Rino Mastrotto, Basmar, Pomari, Nuova Osba, Tessitura Oreste Mariani and Mapel. The group is also active in the automotive sector through Brusarosco in Italy and Elmo Leather in Sweden, and in interior design through its Italian division, Elmo Leather, the North American distribution branch Carrol Leather, and Imatex in the textile sector. Morelab, a Tuscan company, is a specialized provider of tailor-made services. 'This transaction adds significant strategic and industrial value, further enhancing Rino Mastrotto's equity story and supporting both its growth and consolidation journey,' said Alessio Masiero, partner at Renaissance Partners. Renaissance Partners invests in four sectors: sustainability, information technology, health care and specialized industrials, managing more than 2.8 billion euros, with investments in 12 companies and an aggregate turnover of approximately 6 billion euros. Bertelli has often prided himself for starting back in the '90s to build the group's network of plants that has grown in time to comprise 24 industrial facilities, of which 21 are in Italy, believing in factories 'as families,' creating the group's own pipeline, from product to retail, and investing over the years in protecting Italy's supply chain and small- and medium-sized companies. Among some of the key investments, for example, Prada Group twice joined forces with the Ermenegildo Zegna Group to acquire a majority stake in Filati Biagioli Modesto SpA in 2021, and in 2023 to buy a 15 percent stake each in knitwear and fine yarns specialist Luigi Fedeli e Figlio Srl. In 2022, Prada took a 43.65 percent stake in Superior, based in Santa Croce sull'Arno in the province of Pisa, Tuscany. The company, a leader in calfskin processing, has been active for more than 60 years in the Italian and international markets as a specialized tanner for the luxury sector. And in 2014, it acquired historic French tannery Tannerie Limoges, founded in 1936, relaunching the storied production site, specialized in lambskin tanning and in particular in the tanning of plongé napa leather. In addition, aiming at the integration of a luxury brand, Prada in April confirmed it was acquiring 100 percent of Versace from Capri Holdings for 1.25 billion euros, a transaction which is expected to close in the second half of the year. Best of WWD EXCLUSIVE: Sean Combs Regains Control of Sean John Brand Isabel Marant Said in Play Again: Sources Holding Industriale Invests in Shoe Specialist Valmor Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Prada boosts production control with Rino Mastrotto investment
Italian luxury fashion group Prada Group has made a strategic equity investment in tanning company Rino Mastrotto, promoting sustained industrial growth and solidifying the business ties. Prada will make an in-kind contribution of 100% of Conceria Superior and Tannerie Limoges, after securing complete control, to Rino Mastrotto, and will also inject cash, cumulatively acquiring a 10% minority interest in Rino Mastrotto. Prada Group chairman and executive director Patrizio Bertelli stated: 'Investing in Rino Mastrotto allows our group to strengthen its control over a highly strategic phase of the production process. Our groups share a passion for quality, innovation and sustainability; we are proud to foster synergies and promote consolidation along the value creation chain and the Made in Italy.' Conceria Superior, founded in the 1960s and located in the tanning district of Santa Croce sull'Arno, is a leading name in calfskin processing. Prada's involvement with Conceria Superior began in 2022 when it became a shareholder. Tannerie Limoges, with more than seven decades of expertise, is a historic French tannery specialising in lambskin processing and the tanning of plongé nappa leather. The group acquired a majority stake in Tannerie Limoges in 2014. The deal is anticipated to be finalised between the end of the second quarter (Q2) and the beginning of Q3 2025. Rino Mastrotto received advisory services from Gatti Pavesi Bianchi Ludovici for legal counsel, Alvarez & Marsal for financial due diligence and Deloitte for legal and tax due diligence. Prada Group was supported by beLab for legal due diligence, PwC for financial due diligence and Legance for tax due diligence. Rino Mastrotto Group CEO Matteo Mastrotto stated: 'This transaction reflects our ongoing commitment to investing in the luxury segment. Having Prada Group as a shareholder is a testament to a long-standing collaboration built on trust and enhances our industrial vision to ensure sustainable growth.' In April 2025, Prada agreed to buy the Versace brand from global luxury fashion group Capri in a $1.38bn cash deal. "Prada boosts production control with Rino Mastrotto investment" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fibre2Fashion
3 days ago
- Business
- Fibre2Fashion
Italy's fashion brand Prada takes 10% stake in Rino Mastrotto Group
Rino Mastrotto and Prada Group announce Prada Group's strategic equity investment in Rino Mastrotto Group. The transaction entails the contribution in kind by Prada Group of 100% of Conceria Superior S.p.A. – following the acquisition of full ownership – and Tannerie Limoges S.A.S. In addition, Prada Group will make a cash investment, resulting, in total, in a 10% minority stake in Rino Mastrotto Group. This transaction further strengthens the strategic partnership between Rino Mastrotto – a global provider of materials and bespoke services for the luxury industry and a trusted partner to leading fashion houses – and Prada Group, fostering long-term industrial development and reinforcing the commercial relationship between the two groups. Prada is set to acquire a 10 per cent stake in Rino Mastrotto Group by contributing Conceria Superior and Tannerie Limoges, along with a cash investment. The deal strengthens their long-term industrial partnership, enhances Prada's control over key production phases, and supports sustainable growth. Expected to close between late Q2 and early Q3 2025, it marks a strategic move in luxury manufacturing. The transaction is expected to close between the end of Q2 and the beginning of Q3 2025 and is subject to certain customary conditions. Matteo Mastrotto, CEO of Rino Mastrotto Group , commented: 'This transaction reflects our ongoing commitment to investing in the luxury segment. Having Prada Group as a shareholder is a testament to a long-standing collaboration built on trust and enhances our industrial vision to ensure sustainable growth.' Patrizio Bertelli, Chairman and Executive Director of Prada Group , stated: 'Investing in Rino Mastrotto allows our Group to strengthen its control over a highly strategic phase of the production process. Our groups share a passion for quality, innovation and sustainability; we are proud to foster synergies and promote consolidation along the value creation chain and the Made in Italy.' Alessio Masiero, Partner at Renaissance Partners , added: 'We are proud to welcome Prada Group as a shareholder in Rino Mastrotto. This transaction adds significant strategic and industrial value, further enhancing Rino Mastrotto's equity story and supporting both its growth and consolidation journey.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (RM)
Business of Fashion
3 days ago
- Business
- Business of Fashion
Prada Acquires 10% Stake in Italian Leather Group Rino Mastrotto
Prada said on Thursday it acquired a 10 percent stake in Italian leather group Rino Mastrotto, as the luxury group aims to tighten its grip over the production process. Under the deal, Prada will confer to Rino Mastrotto two tanneries — Italy's Conceria Superior and France's Tannerie Limoges — and said it will make a cash investment, without specifying the figure. 'Investing in Rino Mastrotto allows our group to strengthen its control over a highly strategic phase of the production process,' Prada's chairman Patrizio Bertelli said in a statement. Rino Mastrotto, backed by private equity firm Renaissance Partners, produces leather for the luxury, automotive and interior design sectors. By Elisa Anzolin Learn more: Will Prada's Versace Bet Pay Off? Prada is adding one of Italy's most famous brands to its stable at an attractive price. But the group is also piling on complexity in a difficult luxury market.
