According to a source familiar with the matter, Italian fashion group Etro is currently in discussions with L Catterton, a buyout firm, regarding a potential expression of interest. It has been reported that Rothschild is providing assistance in these early stage discussions between the two companies. While L Catterton has chosen not to comment on the matter, Etro has yet to respond.
The fashion and luxury industry experienced a significant decline in sales in 2020 due to the global pandemic. As a result, there has been a notable increase in mergers and acquisitions within the sector. One recent example is the acquisition of German label Jil Sander by Italian fashion group OTB. Additionally, Moncler, renowned for their jackets, agreed to purchase Italian high-end streetwear and fashion brand Stone Island.
The potential interest of L Catterton in Etro was first reported by Italian daily Il Sole 24 Ore. Etro reported a core profit of 16 million euros in 2019, according to the newspaper.
Etro, a family-owned company, was founded by Gimmo Etro in Milan in 1968 as a textile company. It has gained recognition for its vibrant paisley patterns and remains under the ownership and operation of the Etro family.
Helpful Links:
– [L Catterton Official Website](https://www.lcatterton.com/)
– [Etro Official Website](https://www.etro.com/)
