MILAN – Caruso’s ownership is returning to Italy.
The brand’s chief executive officer Marco Angeloni said on Friday that Lanvin Group has sold Raffaele Caruso SpA to MondeVita Italy S.r.l., part of Mondevo Group, founded by Hussam Otaibi, chairman, and Fabio Brambilla, co-founder and CEO.
Financial details were not disclosed. Lanvin took control of Caruso in 2021, when it operated as Fosun Fashion Group. Lanvin Group also controls the Lanvin brand; Austrian hosiery specialist Wolford; American fashion brand St. John, and Sergio Rossi, and is publicly traded on Wall Street.
“The key word is continuity,” Angeloni told WWD in an exclusive interview. To wit, he is confirmed as CEO and will also become a minority shareholder in the company, reinforcing his long-term commitment to Caruso’s development. The existing management team remains in place and Max Kibardin will continue in his role as creative director of the Caruso brand, said the executive.
“I am extremely satisfied to announce this operation, which confirms the path Caruso has undertaken over the years and reflects a shared passion for Italian culture, lifestyle and artisanal manufacturing, as well as for the distinctive identity the brand has built over time,” he said. “This transaction further strengthens Caruso’s foundations and its deeply Italian DNA.
“I have personally been involved in the process to select a potential buyer, seeking a solid, stable and long-term investor that would be aligned with our values of Made in Italy and our strategies, protecting and supporting our wonderful production plant,” explained an upbeat Angeloni. “We will continue to service the maisons and our Caruso clients.”
MondeVita met these parameters, he continued, adding that Brambilla has been a Caruso customer for a long time. “He believes in Italian lifestyle and shares a passion for the brand,” said Angeloni.
This will be MondeVita’s first investment in lifestyle, after ventures in financing and renewable energies, he said.
Caruso was founded in 1964 in Soragna, in Italy’s Emilia-Romagna region, and in addition to its own proprietary menswear brand, it manufactures collections in-house for leading and international luxury brands.
Marco Angeloni
“The fact that I am investing myself shows how much I believe in the project and we will work on expanding the brand and on strengthening our production plant in Soragna,” said Angeloni. “Caruso represents a unique combination of industrial scale and sartorial craftsmanship within the global luxury menswear landscape. The plant is the core of the company’s operations, representing a strategic industrial asset deeply rooted in the local territory and a key pillar of the company’s identity and future.”
The company employs over 450 people and generates annual revenues of approximately 35 million euros. Modernizing the company, over the past two years, Angeloni has hired 100 people in a younger age bracket and 80 percent of them are in production, he said.
“The Caruso brand is recognized for its distinctive positioning of playful elegance, combining sartorial rigor, lightness and a contemporary interpretation of Italian style, and this will be further enhanced going forward,” added Angeloni.
