French luxury goods group, PPR, said Nov 8th that it has acquired 100 percent of Brioni, the Italian menswear brand. The price of the acquisition wasn’t released. Reports value Brioni at about $450 million.
Brioni, whose 2010 revenue reached 170 million euros ($235 million), is one of the world’s most reputable men’s fashion houses. It is the top-rated men’s fashion brand in the United States (Luxury Brand Status Index, 2011). It is a profitable and growing business with its own sartorial workshops, the largest of which is located in Penne in the Abruzzo region. It has 1,800 employees and is distributed in 74 boutiques, 32 of which are directly owned stores, as well as through a network of points of sale around the world. The company, founded in 1945, has been worn by number of celebrities, world leaders and even fictitious heroes over the years, including Clark Gable, Rock Hudson the James Bond character, Vladimir Putin and Rudolph Giuliani.
By acquiring this menswear-only brand, PPR, whose other brands include Boucheron, Gucci and Yves Saint Laurent, said it is increasing its portfolio of luxury brands in the high-end men’s fashion segment. PPR said in a statement its acquisition will enable Brioni to widen its product range and accelerate its geographic expansion in strong growth markets.
“Brioni boasts top quality craftsmanship and is synonymous with Italian masculine elegance,” said François-Henri Pinault, PPR chairman and CEO. “It is the reference in ready-to-wear and bespoke menswear and I am delighted that it is joining our magnificent portfolio of luxury brands. We have great ambitions for this fashion house. We will give it access to our expertise and know-how, so that it can write a new page in its history while continuing to preserve its identity.”
The transaction is subject to the approval of the competition authorities and should be finalized at the beginning of 2012, The Paris-based conglomerate said.
Brioni, whose 2010 revenue reached 170 million euros ($235 million), is one of the world’s most reputable men’s fashion houses. It is the top-rated men’s fashion brand in the United States (Luxury Brand Status Index, 2011). It is a profitable and growing business with its own sartorial workshops, the largest of which is located in Penne in the Abruzzo region. It has 1,800 employees and is distributed in 74 boutiques, 32 of which are directly owned stores, as well as through a network of points of sale around the world. The company, founded in 1945, has been worn by number of celebrities, world leaders and even fictitious heroes over the years, including Clark Gable, Rock Hudson the James Bond character, Vladimir Putin and Rudolph Giuliani.
By acquiring this menswear-only brand, PPR, whose other brands include Boucheron, Gucci and Yves Saint Laurent, said it is increasing its portfolio of luxury brands in the high-end men’s fashion segment. PPR said in a statement its acquisition will enable Brioni to widen its product range and accelerate its geographic expansion in strong growth markets.
“Brioni boasts top quality craftsmanship and is synonymous with Italian masculine elegance,” said François-Henri Pinault, PPR chairman and CEO. “It is the reference in ready-to-wear and bespoke menswear and I am delighted that it is joining our magnificent portfolio of luxury brands. We have great ambitions for this fashion house. We will give it access to our expertise and know-how, so that it can write a new page in its history while continuing to preserve its identity.”
The transaction is subject to the approval of the competition authorities and should be finalized at the beginning of 2012, The Paris-based conglomerate said.
