A New Chapter for Caruso: Back to Its Italian Roots
In a move that has sparked excitement and curiosity, the ownership of Caruso, a renowned menswear brand, is returning to its homeland, Italy. This development has sent ripples through the fashion industry, leaving many intrigued by the story behind this transaction.
But here's where it gets intriguing... Marco Angeloni, Caruso's CEO, announced on Friday that Lanvin Group, the previous owner, has sold the brand to MondeVita Italy S.r.l., a subsidiary of the Mondevo Group. While financial details remain undisclosed, this deal marks a significant shift in the brand's trajectory.
Lanvin Group, which also controls the iconic Lanvin brand and several other renowned fashion houses, acquired Caruso in 2021 when it operated under the Fosun Fashion Group. Now, Caruso is back in Italian hands, and this transition is set to bring about some exciting changes.
Continuity and Commitment: Angeloni's Role
In an exclusive interview with WWD, Angeloni emphasized the importance of continuity in this transaction. He confirmed his position as CEO and revealed that he will also become a minority shareholder, demonstrating his long-term commitment to Caruso's growth and development. The existing management team, including creative director Max Kibardin, will remain in place, ensuring a smooth transition.
Angeloni expressed his satisfaction with the deal, stating, "This operation confirms Caruso's path and reflects a shared passion for Italian culture, lifestyle, and artisanal craftsmanship. It strengthens Caruso's foundations and its deeply Italian DNA."
Finding the Right Investor: A Personal Journey
Angeloni shared his personal involvement in selecting a buyer, seeking an investor who aligned with Caruso's values of Made in Italy and its strategic vision. He explained, "I wanted to protect and support our wonderful production plant, and MondeVita met these criteria perfectly."
MondeVita, founded by Hussam Otaibi and Fabio Brambilla, has ventured into lifestyle investments for the first time after successful forays into financing and renewable energies. Brambilla, a long-time Caruso customer, shares a passion for the brand and Italian lifestyle, making him an ideal partner for Caruso's future.
Caruso's Legacy: A Unique Blend of Scale and Craftsmanship
Caruso was founded in 1964 in Soragna, Emilia-Romagna, and has since become a leading manufacturer of luxury menswear collections, both for its proprietary brand and for international luxury houses. Angeloni highlighted the brand's unique position, stating, "Caruso represents a rare combination of industrial scale and sartorial craftsmanship in the global luxury menswear market. Our production plant in Soragna is the heart of our operations and a key pillar of our identity and future."
With over 450 employees and annual revenues of approximately 35 million euros, Caruso is a significant player in the industry. Angeloni's modernization efforts over the past two years have seen the hiring of 100 younger employees, with 80% of them working in production, ensuring a fresh and dynamic workforce.
Looking Ahead: Expanding the Brand's Horizons
Angeloni believes in the potential of Caruso and is investing personally in the brand's future. He plans to expand the brand's reach and strengthen its production capabilities in Soragna. The CEO emphasized, "The Caruso brand is known for its playful elegance, combining sartorial precision with a light and contemporary interpretation of Italian style. We will build upon this distinctive positioning moving forward."
A New Beginning: What Does This Mean for Caruso?
This transaction marks a new chapter for Caruso, one that promises to enhance its unique identity and strengthen its Italian heritage. With MondeVita's investment, the brand is poised for growth and innovation while staying true to its artisanal roots. As Caruso embarks on this journey, it invites its loyal customers and fashion enthusiasts to witness the evolution of a beloved Italian brand.
And this is the part most people miss... What do you think about this deal? Do you believe it will benefit Caruso's long-term success? Share your thoughts in the comments below and let's spark a conversation about the future of this iconic Italian brand!
