Sixty Group, the company that produces and owns the brands Miss Sixty and Energie, was recently sold to the Asian investment company Crescent Hyde Park.
Aim of the operation is to relaunch the Italian group that has been suffering seriously from the crisis. In the last two years Sixty Group's turnover has reduced from over €500 million to about €300 million. Moreover, the company still needs to deal with a €300 million debt. After over two years of discussions with banks and despite a €40 million capital increase decided by the founders of the company just before co-founder Vicky Hassan deceased in December 2011, no solution to the problem and no agreement with banks has been found yet.
The details of the disposal are not known yet, though sources inside the company confirmed the operation, Crescent Hyde Park wants to support Sixty in its relaunch and international development. Sixty Group's production and distribution partner in Asia Trendiano Co. Ltd was publicly announced at the end of 2011.
Aim of the operation is to relaunch the Italian group that has been suffering seriously from the crisis. In the last two years Sixty Group's turnover has reduced from over €500 million to about €300 million. Moreover, the company still needs to deal with a €300 million debt. After over two years of discussions with banks and despite a €40 million capital increase decided by the founders of the company just before co-founder Vicky Hassan deceased in December 2011, no solution to the problem and no agreement with banks has been found yet.
The details of the disposal are not known yet, though sources inside the company confirmed the operation, Crescent Hyde Park wants to support Sixty in its relaunch and international development. Sixty Group's production and distribution partner in Asia Trendiano Co. Ltd was publicly announced at the end of 2011.
