Nuo Capital acquires minority stake in Italy’s Slowear
today Oct 16, 2018
Investment holding company Nuo Capital has acquired a minority stake in the Italian ready-to-wear company Slowear, which owns a number of brands and plans to use the funds for an ambitious development plan.
After acquiring a minority stake in Slowear with an undisclosed agreement, Nuo Capital aims to use its resources, skills and knowledge of the Asian market to help Slowear to further expand. The business also aims to double its current annual turnover in the near future.
“Our goal is to provide an important boost to the company’s development,” Roberto Compagno, president and CEO of Slowear, said in a statement.
“Accelerating the roll-out of the mono-brand retail format, developing the channel and digital communication, and facilitating entry into the Asian market, where we see great potential. Nuo Capital is a partner that’s consistent with our family business culture, and which can support us, both in growth and in managing the strategic challenges in our sector. We were struck by Nuo Capital’s philosophy, by their long-term approach and by their willingness to support the best family and entrepreneurial businesses, sharing their values, and with the common goal of developing Italian excellence in the East.”
“After investments in Italian wine [with Terra Moretti] and design [Sozzi Arredamenti], we are continuing our journey with luxury ‘smart casual’ clothing and with the Compagno family,” said the CEO of Nuo Capital, Tommaso Paoli, in a statement.
Slowear was founded by the Compagno family in Mira (Venice) in 1951. The brand operates in the smart-casual section of the menswear market and comprises a number of brands including Incotex, Zanone, Montedoro and Glanshirt.
Slowear has a retail network of 29 stores, including shop-in-shops and franchises, as well as 15 flagship stores in locations such as Milan, Paris, London, New York, and Tokyo.
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