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21 Investimenti to acquire Philippe Model

Italian fund 21 Investimenti III is to acquire Philippe Model, a high-end fashionable leisure shoe brand based in the heart of the Riviera del Brenta Italian footwear district and distributed worldwide by top luxury wholesalers.

Founded in 2008 by the Italian designer Paolo Gambato, the company reached sales of over EUR30 million in 2015. Currently about 50 per cent of revenue is realised outside Italy: 40 per cent in Europe (mainly Germany, France and the Netherlands) with the rest in markets such as Japan and South Korea.
 
The company’s founders were looking for a financial partner to sustain the future development of Philippe Model. 21 represented the right partner to carry the company forward and to build a strong brand identity. The transaction will see 21 acquire a 70 per cent stake, with the founders maintaining the remaining 30 per cent.
 
Alessandro Benetton, founding managing partner of 21 Investimenti, says: “I’m very proud to be able to contribute to the development of a business distinguished by a strong attention to the product, materials and elegance with the objective to become a leader in its market. Philippe Model represents a typical example of Made in Italy luxury that by taking advantage of local competencies and workers can conquer international markets.”

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