Italy's Ministry for Economic Development announced that Albisetti Group will acquire Ittierre, a Southern Italian group founded in the 1980s and specialised in producing and distributing designers' jeans as well as ready-to-wear collections.

By the end of 2008, the financial crisis had hit Ittierre and the IT Holding group. In February of 2009, Ittierre was managed through an “extraordinary administration" phase, a special support given by the state of Italy in order to help suffering companies. Ittierre today produces and distributes Just Cavalli, C'N'C Costume National, GF Ferré, Galliano, ERMANNO Ermanno Scervino and its own Acht jeans brand.

Great satisfaction was expressed by Antonio Bianchi, CEO of Albisetti Group, regarding the acquisition: “Our group is financially solid and will support Ittierre with the competence it earned in the last 30 years on the international fashion market. In a moment when everyone is speaking about the need to save the Italian fashion industry’s heritage and know-how, I think this acquisition is an important message that - hopefully - will also be followed by other Italian entrepreneurs." He continues: "Our industrial plan aims at making the most of Isernia's local productive sites and, in general, of the skillful local network that already in the past proved to be so lively and valid."

Albisetti Spa is an Italian specialised manufacturer and distributor of underwear, beachwear, leisurewear, activewear and accessories, founded in 1977 and based near Como. The company employs 150 people and expects to end 2010 with a turnover of € 60 million. Moreover, Albisetti Spa has a wide portfolio of licensed agreements with major designer brands such as Alexander Mc Queen, John Galliano, Roberto Cavalli, Just Cavalli, Frankie Morello, Bikkembergs and Vivienne Westwood. In addition, the company produces underwear and beachwear for Burberry, Balenciaga, Balmain, Lanvin, Polo Ralph Lauren and Hermes.