According to reports, this transaction does not include the Pal Zileri brand, which is still fully controlled by the Qatari fund Mayhoola.

The Group expects turnover to return to pre-COVID-19 levels in 2023, thanks to investments in products and customer relationships.

Tamburi holds stakes in over 30 portfolio companies.

Currently, Morellato Group’s brands are present in over 40 countries, with a strong focus still centered in Europe. However, in the coming years, the company’s priority will shift towards the Middle East and further attention will be given to the United States and China.

According to the report, Chinese high-spending consumers exhibit a willingness to spend that is 50% higher than the global average.

“We intend to maintain a growth rate of 100% in the coming years, achieve €10 million in EBITDA within four years, and consider listing on the stock exchange in 2024.”

Fenice’s revenue increased by 134% year-on-year to 61 million euros, while Tbs Crew’s revenue grew by 105% year-on-year to 14.6 million euros.

According to speculation, the acquisition price for Pinarello is estimated to be around €200 million.

Antonio De Matteis, CEO of Kiton and newly appointed president of Pitti Immagine, expects the revenue for 2023 to approach 200 million euros, reflecting a growth rate of approximately 23.4%.

Italian luxury yacht manufacturer Ferretti is set to debut on the Milan Pan-European Exchange.