German SME investor Halder has completed an MBO/MBI of Italian luxury leather goods manufacturer Bottega Manifatturiera Borse.
Headquartered in Scandicci near Florence, the company manufactures leather handbags and accessories for luxury brands and under its own Gianfranco Lotti label.
The investment provides ownership and management succession for the firm’s founder, Gianfranco Lotti, and his family, Halder said.
The accessories product category of the luxury goods market alone has grown by more than 15 per annum over the last years and in 2012, both segments represented over 50 per cent of total market volume, with around €211bn at retail value. Demand for luxury goods is substantially driven by the wealth creation in emerging economies, particularly in Asia: in five years’ time, the 30 leading emerging markets are expected to increase their imports of luxury goods by almost 50 per cent compared to 2012, Halder said. Plans are to more than double revenues against 2012 over the medium term by broadening the firm’s customer base and through the internationalization of its label, according to the firm.
In 2012, Bottega Manifatturiera Borse had sales revenues of €34.8m.
Halder has brought in Franco Lucà as the firm’s new CEO to strengthen current management. He was previously CEO at former Halder portfolio company GEKA
The firm is currently investing from its €325m fund, which has already acquired five German mid-cap firms as well as another international company, French turbo charger specialist CCN.
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