MBFG is expected to reinvest € 15 million in the company that has been established by Abacus Invest to acquire the Multi-brand Retail division as a means of remaining closely involved in the business and ensuring a continued revenue stream from the sale of MBFG brands in these stores. Management of the Multi-brand Retail Division will invest in the new company and remain in key management roles.
Giovanni Burani, CEO of Mariella Burani Fashion Group indicated: “This divestiture represents another step in MBFG's stated objective of focusing on our leather goods and fashion jewellery businesses and on the continued development of our mono-brand retail network. We will, nevertheless, remain committed and closely involved in the joint development of these top quality businesses as is evidenced by our renewed equity participation therein.“
Mariella Burani Fashion Group
marketing@alchempro.com
