The Tamesis
Missoni Group has signed an agreement with Italian equity firm FSI, which will become the company’s controlling shareholder as the Missoni family sells its stake.
FSI previously held 41.2% of Missoni’s shares and has now become its majority shareholder, with a shareholding ratio of 73%. Katjes Quiet Luxury, Bogner’s owner and a subsidiary of German brand group Katjes International, has acquired the remaining 27%.
The Missoni family retained full ownership of its eponymous brand until 2018, when it sold a 41.2% stake to FSI. With this new deal, the family no longer holds any shares in the company but will continue to work with Fondazione Ottavio e Rosita Missoni.
Missoni Group said in a statement on Friday that the new partnership “marks the beginning of a new phase of growth, backed by two financially strong shareholders who share a common passion and long-term vision. The key message from an operational and strategic perspective is continuity.”
Speculation about the sale of Missoni began circulating in January, and in March, the brand announced that FSI would become the controlling shareholder. The process was completed on May 21.
The brand’s CEO Livio Proli and its current management team will retain their positions. According to the press release, Missoni’s revenue has exceeded 130 million euros and profits continue to double.
Proli joined Missoni in 2020 after an extensive career at Giorgio Armani, including as Brand General Manager and Managing Director, and as President and CEO of GA Retail and GA Operations. He also served as president of Giorgio Armani’s Olimpia Basket Milano basketball team.
Missoni’s board of directors will be chaired by FSI co-founder and co-managing partner Barnaba Ravanne. FSI said in a statement: “The company’s employees express their sincere gratitude to the Missoni family and are convinced that the Missoni brand will remain true to its unique heritage and unique ability to reassure and inspire, fully in line with its core values and aesthetic identity.”
