Italian ‘buy now, pay later’ specialist Scalapay has completed a funding round worth €131 million ($150 million), that will enable the company to bolster its personnel growth and international expansion plans.
Revenue for the Italian leather goods group led by Marco Palmieri soared to €147.5 million in 2018-19 driven by Lancel, with a net financial position of €25.6 million. The revenue target for 2019-20 is €160 million.
The Italian group posted strong performances in Italy (+31.3%) and the rest of Europe (+21.1%),offsetting a 29.1% loss in the rest of the world segment. E-tail revenue was up 19.7%, said the leathergoods firm.
Acne is reportedly up for sale and Carven on the look out for new investors. Add to this the recent announcement of Piquadro's potential acquisition of Lancel, and the fashion and luxury sector looks set for a shake-up.