Brunello Cucinelli restructures holding company
Brunello Cucinelli has decided to restructure its holding company Fedone, separating the property assets from the label's business, "to make [their] management straightforward and easy," the company has stated.
The Italian label confirmed to FashionNetwork the details of the restructuring operation, revealed by the MF fashion magazine, which involves the separation of Brunello Cucinelli's property assets from the holding company Fedone, controlled by the Cucinelli family and owner of the fashion group.
Cucinelli's real estate assets are located chiefly in the historic town of Solomeo, near Perugia, where the company is based. They would be incorporated in the Socrate company, whose resulting assets are expected to be worth over €70 million.
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