Fashion, winds of company sales blow in 2022  

In the fashion sector there is an air of disposal. In December, the auction opened for the assets of Conbipel, the italian clothing chain controlled by the american fund Oaktree capital management, in receivership since last January 28. According to the notice published on the company's website, binding purchase offers must be submitted by January 21, 2022. Among the potential buyers there could be the Ovs group. The ceo Stefano Beraldo, in fact, has never denied an interest and the desire to make new acquisitions. Remaining in Italy, the Twinset deal, in the orbit of the fund Carlyle, is still open, although in a recent interview with MFF the ceo Alessandro Varisco has confirmed that for now the sale is postponed to a date to be determined (see MFF of December 8). Also just before Christmas, italian footwear brand Heydude changed hands for 2 billion dollars (about 2.2 billion euros) to Crocs (see MFF of Dec. 24).

«Deciding to sell now would mean losing that gap that we have to recover after the health emergency. It's definitely premature to talk about that now», he said. «After the operations of 2021, among which I remember among others Minelli, Etro and Caractere, I think in the near future may find completion the steps first of all Conbipel, which has gone through a deep crisis», said to MFF Alessandro Cortesi, professor in Liuc and partner of Wepartner, advisory boutique in integrated consulting for businesses, continuing: «Then comes Twinset, where the Carlyle fund already at the beginning of 2020 had started a process of divestment of the participation then interrupted due to the pandemic, and finally, in the furniture sector, of Calligaris». The Alpha private equity fund, which had acquired a majority stake in Calligaris group from the family in 2018, recently expressed its willingness to divest the business of the fruliana company (see MFF of December 15).

According to rumors that have been circulating for a few months, the swiss giant Richemont would also be looking to sell its subsidiary Ynap (founded by Federico Marchetti, ed). According to rumors, the holding company would be looking at multiple options to divest the e-commerce platform, which is loss-making due to both the impact of Covid and the slowdown in China (see MFF of October 19). «All companies in the fashion, luxury and design sectors have undoubtedly suffered the effects of Covid, however, it seems to me that in general the sector has well contained the backlash», Cortesi specified.

The situation of Smcp is also delicate. The general meeting of the group, to which the brands Sandro, Maje, Claudie Pierlot and De Fursac belong, will have to unravel, hopefully next friday, the complex conflict between the chinese shareholder Shandong Ruyi, operating through the investment vehicle european Topsoho, and Glas, the debt manager acting as trustee for Smcp's creditors, namely the investment funds Blackrock, Carlyle, Anchorage, Boussard and Gavaudan. «I believe that 2022 will also be characterized by numerous transactions», concluded the expert. On one hand because there is a lot of liquidity seeking employment, especially from funds. On the other hand because there are still interesting companies that alone do not present prospects for development. (reserved reproduction)