×
69 582
Fashion Jobs
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - ny 59th st
Permanent · NEW YORK
SACK OFF 5TH
Asset Protection Guard
Permanent · FARMINGTON HILLS
JCREW
Merchandise Planner
Permanent · New York
MACY'S
Asset Protection Detective, Pleasanton Stoneridge - Part Time
Permanent · Pleasanton
MACY'S
Asset Protection Officer, West Virginia - Full Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Investigator, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Detective, Coronado Center - Part Time
Permanent · Albuquerque
MACY'S
Asset Protection Detective, Roosevelt - Part Time
Permanent · Philadelphia
MACY'S
Asset Protection Officer, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Manager, Merchandise Execution
Permanent · Aventura
MACY'S
Manager, Asset Protection
Permanent · Capitola
MACY'S
Manager, Merchandise Execution
Permanent · Boca Raton
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · TANNERSVILLE
UNDER ARMOUR
Stock Lead, ft
Permanent · WOODSTOCK
URBN
Assistant General Manager (m&v)
Permanent · GLEN MILLS
URBN
Free People Senior Merchandise Planner
Permanent · PHILADELPHIA
L'OREAL GROUP
Analyst - Supply Chain
Permanent · Streetsboro
L'OREAL GROUP
Payroll, Senior Business Analyst (IT Liaison) – l’Oreal Corporate Payroll
Permanent · St. Petersburg
L'OREAL GROUP
Senior Manager- Human Resources, Luxe Supply Chain
Permanent · South Brunswick Township
PRANA
Director, Strategic Accounts & Sales Business Development
Permanent · CARLSBAD
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Stanford
Permanent · PALO ALTO
ROSS
Store Protection Specialist
Permanent · Tampa
By
Reuters
Published
Apr 10, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Italy's Stefanel reportedly set to be relaunched and sold in next five years

By
Reuters
Published
Apr 10, 2017


Two private equity funds that have agreed to take over loss-making Italian clothing company Stefanel plan to relaunch the brand and sell it within five years, a source at one of the funds said.


Stefanel



Stefanel reached an agreement at the end of March to sell a 75 percent stake to Oxy Capital and Attestor Capital and immediately received 10 million euros ($10.6 mln) in emergency funding from them to avoid bankruptcy.

The new owners seek to reposition the Italian group, aiming at women between the ages of 35 and 50 rather than younger customers, in a segment of the market just above Benetton and Zara, the source at Oxy Capital, who did not wish to be identified, said.

"One of Stefanel's problems was raising its target too much, pushing towards luxury, without doing the same thing on the quality offered, and thus losing customers," the source said.

Oxy and Attestor also aim to cut the number of Stefanel stores and sell more through third-party outlets such as department stores.

The fashion group accumulated over 170 million euros in losses over the past decade as it faced fierce competition from high-street brands like H&M and Zara.

Oxy and Attestor expect to complete the purchase by the summer, after receiving the green light from Italy's market watchdog and a Treviso-based court that handled the bankruptcy case, the source said.

They will appoint a new CEO in the next three to six months but have decided against delisting Stefanel as that was considered too costly.

Stefanel is set to receive another 15 million euros in new funds from creditor banks and from Oxy Capital and Attestor Capital. Giuseppe Stefanel, former owner and chairman, might contribute between 1.25 million and 2.5 million euros of that but it has not yet been decided, the source said.

Stefanel's new business model could entail shifting production from China to Italy, Turkey and Romania, the source said. ($1 = 0.9433 euros)

© Thomson Reuters 2023 All rights reserved.