Private equity firm Style Capital has reportedly snapped up a majority stake in sneaker label Autry International as part of its ongoing efforts to transform various brands into iconic names.
The Milan-based company is understood to have secured a 50.2 percent stake in the brand, with the transaction value believed to have been at around 300 million euros, according to WWD, which initially reported the news.
The deal was made with Pambianco’s The Made in Italy Fund and Autry founders, the Doro family, who will retain a 42 percent share in the company. The Made in Italy fund, meanwhile, will reinvest an 8 percent share.
Speaking to the media outlet, Roberta Benaglia, CEO and founder of Style Capital, said that the company was looking to consolidate Autry’s “rapid growth” while “laying the foundations for a sustainable long-term and international growth path”.
