Stroili, the largest Italian jewelry group, is close to being sold: it is being negotiated by the Russians of Vtb capital, who are buying the Cavalli brand, and the Italian Clessidra, a private equity fund led by Cludio Sposito. The Corriere della Sera writes (again) in an article by Daniela Polizzi, the most informed financial reporter on the world of fashion. The article is unfairly confined to a short article (there are no longer the editors-in-chief of the past…), while it would have deserved greater prominence: Stroili, in fact, is the largest Italian jewelry group (followed by Damiani, with a turnover of 144 million). But it is worth reading the Corriere article.
«A double blow is looming in Italy for the Russian Vtb capital, which is about to close negotiations for the acquisition of the Roberto Cavalli brand. Behind the scenes, Tim Demchenko, the manager in charge of investments for the Moscow financial giant, is trying to close another deal. It is the acquisition of Stroili Oro, the largest jewelry chain, with 370 stores, 1,800 employees and 210 million in revenue. In practice, the other asset officially up for sale (in addition to Cavalli) in the world of fashion and luxury in Italy. The news is that Demchenko is no longer sitting alone at the negotiating table. At his side are Claudio Sposito, founder of Clessidra sgr, as well as Francesco Trapani, vice president of the Milanese private equity firm and a luxury specialist, given his past as the owner of Bulgari. The plan is to build a consortium with Clessidra as the leader to acquire 100% of the jewelry chain. On the other side of the table are Lazard and Banca Imi, advisors to the complex Stroili group. From Andrea Bonomi’s Investindustrial to L Capital, which are Stroili’s major shareholders (31% and 20% in transparency). The rest of the investor pool includes Intesa Sanpaolo, Wise sgr and Alessandro Benetton’s 21 Investimenti. Vtb and Clessidra, if the operation goes through, have perfectly married their interests. Clessidra has found a rich investor and the Russian Vtb a strong and expert Italian partner. A good viaticum for a reality of a country threatened by EU sanctions».
