Philippe Model acquired by 21 Investimenti, Alessandro Benetton's investment fund
Philippe Model Paris has changed owners. The footwear brand hails from Paris but has been based in Italy for a long time. It has now joined the galaxy of 21 Investimenti, the investment fund owned by Alessandro Benetton.
Philippe Model was created as a sneaker brand in the 1980s. Since 2008, it has designed by Paolo Gambato and managed by Roberto Doro, the former owners. They will both keep their roles and stay on as shareholders. According to our sources, the investment fund has acquired 70% of the company's capital. Philippe Model's revenue, at retail value, is estimated at €100 million.
Philippe Model is one of the high-value brands in the premium sneakers world. Its products are manufactured at Vigonovo, in Italy's Veneto region, one of the country's footwear hubs.
The press release announcing the acquisition also set out its objectives: internationalisation and expansion of the client base. The brand already generates 50% of its revenue outside Italy, and it is notably aiming to open a series of flagship stores in the world's major cities.
No details have yet been given about the clients it intends to target.
Copyright © 2021 FashionNetwork.com All rights reserved.