Made in Italy investment fund buys majority stake in sneaker brands Autry, Ghoud
The Made in Italy investment fund, managed by Quadrivio & Pambianco, has announced the acquisition of a majority stake in Autry and Ghoud, two brands specialised in sneakers. Marco Doro, a businessman who took over Autry in 2019 with Alberto Raengo and Gino Zarrelli, and is also the founder of Ghoud with Veronica Sgarbossa, will still hold a stake in both companies. Patrizio di Marco, president of Golden Goose and a former director at Gucci and Bottega Veneta, will instead assume the role of president for both brands, and will be an investor himself alongside Made in Italy.
Autry and Ghoud will be part of the Italian investment firm’s fashion division led by Mauro Grange, which also owns 120% Lino, an Italian brand and a market leader in the production of linen and natural fibre garments, Rosantica, a brand specialized in the production of jewellery, handbags and fine accessories, and denim producer and fashion retailer Dondup. Last November, the Made in Italy fund also acquired a majority stake in GCDS, the label led by the Calza brothers.
“From the very beginning I understood that Autry and Ghoud would be the rising stars in the global sneaker market. Ever since their creation, I have been in contact with their founder Marco Doro and his associates Gino Zarelli and Alberto Raengo, and I worked personally to realize the dream of having them eventually within our group,” said CEO Mauro Grange. He added: “I am honoured for having been appointed CEO of both companies. Thanks to these two new acquisitions, the group will gain global visibility, and this will also promote exceptional strategic synergies for the group's other brands.”
Autry, like Ghoud, is targeting both men and women, and is distinctive for its iconic 1980s style and the Stars & Stripes flag in its logo. Ghoud was founded in Italy in 2017 and is positioned in the accessible luxury segment. Its hallmark are a minimalist style and the quality and in-depth research behind its products. The two companies’ revenue for 2021 is estimated at between €25 million and €30 million, with EBITDA between €7 million and €9 million.
The Made in Italy investment fund aims to boost the market positioning of Autry and Ghoud, working on their brand image but also supporting their growth and expansion. Currently, the main markets for Autry are Italy with a 29% share of sales, Germany (29%) and France (21%). For Ghoud, France accounts for 33% of sales, Italy for 28% and Belgium for 10%.
The brands’ investment strategy hinges on an international expansion plan whose main thrust is the European market, as well as a broadening of the distribution footprint in Asia, the USA and the Middle East. One of the main growth drivers will be improving the two brands’ retail distribution, tapping channels that are already exploited by other brands within the group. Further monobrand store openings are also planned in key cities.
Among the objectives set for Audry and Ghoud, developing the e-tail channel and a focus on human resources, hiring professionals capable of supporting the strategy that has been put in place, in order to fulfil the expansion plan as effectively as possible.
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