Trussardi denies sale rumours
today Oct 30, 2017
Trussardi is not for sale. The eponymous family, which controls the Italian ready-to-wear label via its Finos holding company, wrote in a brief press release that "there are no negotiations under way for the company's sale," thereby denying the news published by Italian newspaper MF Fashion on Thursday, according to which Trussardi might be "looking for a strategic partner."
The Milanese paper, citing bank sources, mentioned Italian investment fund Investindustrial among the potential buyers. The fund, owned by businessman Andrea Bonomi, features luxury footwear label Sergio Rossi in its brand portfolio.
"All of the Trussardi group's industrial activity is currently focused on reaching the development objectives set by its industrial plan," wrote the label in the press release.
Last year, the group reorganised its shareholding - the brand is owned by siblings Tomaso (50%) and Gaia Trussardi (25%) and by their mother Maria Luisa Gavazzeni (25%) - and launched a fiv- year plan for 2017-21, aiming to reposition the label in the accessible luxury segment and concentrating chiefly on two main lines: Trussardi, whose slogan is 'Elegantly cool', and Trussardi Jeans, the younger sportswear line.
The new strategy went hand in hand with an 80% overhaul of the group's line management, as well as an in-depth restructuring of the multi-brand sales channel, which has been made more selective. The same was done for mono-brand stores with, crucially, the closing down of the less profitable shops.
Trussardi therefore finds itself in the midst of a transition phase, as reflected in the results for the 2016 fiscal year. Finos closed 2016 with a revenue of €182 million, up 27% compared to 2015. Nevertheless, the company still posted losses for 2016, though they were less than those recorded for the previous fiscal year. The net loss was €7.5 million, while the operating loss decreased to €13.6 million, compared to €25.7 million a year earlier.
Trussardi currently operates a network of 134 monobrand stores.
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