The Missoni family has completely divested its stake in the Missoni luxury brand. FSI, a Milan-based private equity fund, has become the controlling shareholder with a 73% stake, increasing its previous 41.2% holding acquired in 2018. Additionally, Katjes International, through its subsidiary Katjes Quiet Luxury, has acquired approximately 27% of the Italian luxury brand. Katjes International also holds a call option that could make it the majority shareholder in the future. This transaction, which was finalized on May 21st, follows months of speculation and signifies a trend of founder-owned brands seeking external investment for growth and stability in a challenging global market. The closing is subject to antitrust approval and is expected in the second quarter.
Livio Proli, who joined Missoni as CEO in 2020 after a career at Giorgio Armani, will remain in his position. Barnaba Ravanne, co-founder of FSI, will take over as president, succeeding Angela Missoni, daughter of the brand's founders. Luca Missoni, Angela's brother, who was previously in charge of special events, is also exiting his role. The Missoni family will continue to lead the Fondazione Ottavio e Rosita Missoni. The company has stated that this new partnership ensures a message of continuity and stability, aligning with prior promises.
Under Proli's leadership, Missoni has seen a turnaround, becoming profitable last year. The brand's revenues are around 130 million euros, with earnings before interest, taxes, depreciation, and amortization expected to reach 20 million euros. Proli aims for revenues to grow to 200 million euros in five years. His strategy includes focusing on the signature line, expanding menswear sales from 8 million euros to a potential 20 million euros, and developing small leather goods, bags, and shoes. The company also plans to expand its network of 42 stores, with four new units in the pipeline, including a boutique in Paris on Rue Saint Honoré. Missoni also has successful home and contract divisions, with Missoni Home sales at approximately 30 million euros, and numerous luxury residence projects and resort clubs globally.
