What to Watch: The Italian M&A Scene

MILAN — There’s little sign M&A deals will slow down in the second half of 2019 after a “boom” last year and a significant increase in transactions in 2019 so far, with Europe leading in terms of sheer numbers, according to the Deloitte Global Fashion & Luxury Private Equity and Investors Survey 2019. According to Deloitte, investments will continue to focus on the cosmetics and fragrances sector, together with the apparel and accessories businesses, underscoring the importance of personal luxury for private equity funds. The study also underscores that investors continue to be optimistic despite worries over a possible global economic slowdown, believing the luxury market will grow between 5 and 10 percent a year. After the sale in July of the Roberto Cavalli brand to Vision Investment Co. LLC, controlled by Hussain Sajwani, founder and chairman of the Dubai-based Damac Properties Group, and Trussardi to Quattro R Asset Management Co. earlier this year, a number of Italian companies are facing generational changes or need additional financial resources to be able to compete with the industry’s fashion giants. As reported, OTB, which controls Diesel, Maison Margiela, Marni, Paula Cademartori, Viktor & Rolf and production arms Staff International and Brave Kid, was also interested in buying the Cavalli

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