Etro founding family exits as new investors join group
Photo: Reuters
The founding family of Italian fashion house Etro has sold its remaining minority stake, exiting the company as new investors, including Türkiye’s RAMS Global, join the group.
Private equity firm L Catterton, backed by luxury giant LVMH, will remain the majority owner, though its stake will fall to 51–55% following a capital increase. The deal, including the stake sale and capital injection, is valued at around €70 million, sources said, News.Az reports, citing Reuters.
Etro CEO Fabrizio Cardinali will stay in his role, while Faruk Bülbül of RAMS Global becomes chairman, as the brand continues efforts to turn around its performance.
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