Aug 27, 2013
Trussardi could sell minority stake in future
Aug 27, 2013
MILAN, Italy - Italian fashion house Trussardi can finance its own investments for at least the next five years but could consider selling a minority stake to secure funds in the future, the family-owned company's chief executive was quoted as saying on Tuesday.
"If we needed to in the future - an option I am inclined to exclude for the moment - the family could sell a minority stake to finance development," Tomaso Trussardi told Italian daily La Repubblica, adding that the family is determined to retain a majority stake.
French conglomerate LVMH's purchase of 80 percent of Italian cashmere brand Loro Piana in early July has fuelled speculation that other venerable Italian fashion companies could be snapped up by foreigners.
Asked whether his firm would follow Italian brands including Prada and Salvatore Ferragamo with a stock market listing, Trussardi said he didn't rule anything out but that Trussardi had no difficulty financing itself.
Some of Italian fashion's biggest names, including Versace and Giorgio Armani, remain family-owned, which leads to speculation over succession plans and possible changes to their corporate structures.
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