Massimo Berloni, CEO of Arcadia s.r.l. and owner of the Dondup brand, has announced the transfer of a 51% stake to L Capital Asia, a private equity fund sponsored by the LVMH Group. L Capital Europe, L Capital Asia’s twin fund, already owns 40% of the company since 2010 (also see here).
The Dondup brand was created in 2000, after an intuition of Massimo Berloni and creative director Manuela Mariotti, as a new concept premium denim brand that later grew to extend its offer and become a complete total look lifestyle brand.
Dondup has reached €50 million sales. Thanks to the new agreement the company will now enter into a new phase, increasing its international expansion while expanding its mono-brand retail channel, both in Italy and abroad.
The company’s industrial plan targets an increase its turnover of about €35 million by 2018, with a consequent growth in profitability.
Ravi Thakran, Chairman and Managing Partner of L Capital Asia declared: "We strongly believe in this brand and in the great potential of its innovative stylistic contents in the Asian markets. As L Capital Asia, we will be glad to support Dondup's expansion in these new markets as a real expression of the Italian creativity.”
The Dondup brand was created in 2000, after an intuition of Massimo Berloni and creative director Manuela Mariotti, as a new concept premium denim brand that later grew to extend its offer and become a complete total look lifestyle brand.
Dondup has reached €50 million sales. Thanks to the new agreement the company will now enter into a new phase, increasing its international expansion while expanding its mono-brand retail channel, both in Italy and abroad.
The company’s industrial plan targets an increase its turnover of about €35 million by 2018, with a consequent growth in profitability.
Carlo Morfini will take on Berloni’s role of CEO
L Capital and Massimo Berloni have called upon Carlo Morfini to spearhead this project. With his twenty years’ experience in the fashion and luxury sectors and after having contributed to draft the strategic plan, Morfini will take on Berloni’s role of CEO. “I accept this appointment with enthusiasm and determination, knowing that the brand values that enabled brilliant business and economic results so far represent a solid base and a great starting point to bring innovation to the brand offer and the corporate business model,” states Carlo Morfini.
Ravi Thakran, Chairman and Managing Partner of L Capital Asia declared: "We strongly believe in this brand and in the great potential of its innovative stylistic contents in the Asian markets. As L Capital Asia, we will be glad to support Dondup's expansion in these new markets as a real expression of the Italian creativity.”
