-- The acquisition by MBFG (via its subsidiary Design & Licenses Spa) of the remaining 10 percent of Antichi Pellettieri Spa held by L Capital for €18.35 million. The 10 percent equity interest was acquired via the exercise of a call option outstanding on the shares, obtained back in September, 2005 when MBFG acquired a 20 percent equity interest in AP from L Capital.
-- Further extension of the Group's retail network with the inauguration of three boutiques; 1 Mariella Burani DOS (Barberino del Mugello, Italy), and 2 franchisees (Mariella Burani in Brussels, and Baldinini in Rome) extending the Group's international retail network to 242 owned and franchised stores by March 31, 2006 (287 with the Coccinelle boutiques).
In addition, on March 2nd 2006 the Board of Directors of Mariella Burani Fashion Group approved the application process for the Initial Public Offering of its subsidiary company, Antichi Pellettieri SpA with the objective of:
-- Providing further incentives for the management of Antichi Pellettieri with participation in AP Spa,
-- Financing the company's aggressive international development,
-- Optimizing the value of the division within the Group.
On April 27th 2006, Shareholder's approved an ordinary dividend distribution proposed by the Board of Directors of Mariella Burani Fashion Group of €0.13 per share to be paid on May 25th 2006 (ex-coupon on May 22nd 2006).
The accessible luxury goods market is expected to continue to growth driven primarily by strong demand from 'emerging' luxury goods markets. The first months of 2006 witnessed continued growth in retail sales for the Group which, together with the positive results from the Autumn/Winter 2006-2007 sales campaign, led MBFG management to confirm double digit growth expectations for 2006.
The Burani's principal activities are the design, production and distribution of luxury ladieswears, knitwear and leather accessories such as handbags and shoes. It sells its products under its own trademark, Mariella Burani and under license for international fashion companies such as Calvin Klein and Vivienne Westwood.
Mariella Burani Fashion Group
marketing@alchempro.com
