PPR, a French multinational holding company specialising in retail shops and luxury brands, will take 100 per cent stake in Brioni, an Italian fashion house which creates hand-made suits and men’s fragrances, leather goods and accessories.
Brioni was founded in 1945 by Nazareno Fonticoli and Gaetano Savini. It has 74 boutiques, 32 of which are directly owned stores and an extensive networks of point of sale worldwide.
Brioni’s elegant suits are worn by celebrities including US president Barack Obama, Pierce Brosnan and Daniel Craig. The brand is selling well in China where market for luxury goods are growing swiftly.
The Italian company joins PPR’s other brands including Yves Saint Laurent, Gucci, Alexander McQueen, Bottega Veneta, Balenciaga, Stella McCartney, Puma, Sergio Rossi and Boucheron.
“Joining PPR group is a great opportunity for Brioni as we will benefit from the group’s power. It is the ideal partner to lead our company towards a new stage in its development while enabling it to preserve its unique know-how and remain faithful to its values of timeless elegance and refinement, ” said Francesco Pesci, CEO of Brioni.
“Brioni boasts top quality craftsmanship and is synonymous with Italian masculine elegance. It is the reference in ready-to-wear and bespoke menswear and I am delighted that it is joining our magnificent portfolio of luxury brands,” said Francois-Henri Pinault, chairman and CEO of PPR.
“We have great ambitions for this fashion house. We will give it access to our expertise and know-how, so that it can write a new page in its history while continuing to preserve its identity,” added Pinault.
PPR said Brioni decided to sell due to a family disagreement on future strategy for the company.