MARIELLA BURANI FASHION GROUP (MBFG) announces the acquisition of a 51% equity interest in CALGARO. The acquisition, the fourth acquisition effected in the jewellery sector in the past six months, represents a further step in the Group's strategic programme to extend its leading position in the accessible luxury goods market into jewellery; a segment highly complementary to leather goods and fashion.
In addition, the acquisitions enhance the Group's focus in the higher growth segments of the market such as Leather Goods and Fashion Jewellery.
The Group's plan is to replicate the development model utilized for Leather Goods Division (Antichi Pellettieri) the invest in top quality small/medium sized businesses with expertise in creating and distributing jewellery collections and facilitate their growth by leveraging synergies offered within the Group.
The enhanced division is expected to generate from € 62-€67 million of revenues in 2007, approximately 9% of the Group's expected 2007 consolidated revenues and will enable the Group to generate over 50% of 2007 revenues from its faster growing leather and jewellery divisions.
Mariella Burani acquired a 51% equity interest in Calgaro Srl via its Fashion Jewellery subsidiary, Gioielli d'Italia Srl, for € 1,5 cash and € 1,5 capital increase.
Calgaro was founded in 2000 by Giuseppe Calgaro and Monica Fin in Vicenza, Italy to introducea revolutionary concept: the marriage between the worlds of jewellery and fabrics to create innovative woven gold and silver jewellery collections that are, in a certain sense, sculptures to be worn.
Mariella Burani Fashion Group
marketing@alchempro.com
