Emerisque Brands may be interested in purchasing Italian jeweler Stroili Oro
today Nov 28, 2014
The Italian retailer Stroili Oro may be sold to the investment firm Emerisque Brands, which acquired two other Italian brands in 2013: MCS (eg Marlboro Classics) and Industries Sportswear Company (ISC), which owns Marina Yachting, Henry Cotton's, as well as the license for 18CRR81 Cerruti.
According to the economic supplement of the Milan newspaper Corriere della Sera, the London investment firm, which is headed by Indian businessman Ajay Khaitan, has won out over the Italian fund Clessidra and the Russian fund Vtb. Both parties are reported to have entered into exclusive negotiations. The sale price should be between 240 and 270 million euros, according to the Italian newspaper. When asked, Emerisque and Stroili Oro have a policy of “no comment".
Launched a few years ago as a jewelry brand (Stroili Gioielli), Stroili Oro is a chain of Italian jewelers with a broad price range. With a network of nearly 370 stores and a presence in 24 countries—including the United Arab Emirates, China, Spain and Germany—it generated a turnover of 210 million euros in 2013.
65% of the family-run Italian company is currently owned by the fund Investindustrial, while the rest is owned by investors that include 21 Investimenti, Intesa San Paolo, Wise Venture, Ergon Capital and L Capital, which is sponsored by LVMH.
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