It Holding sells Romeo Gigli brand

The It Holding Group finalized today the sale of the controlling stake of Romeo Gigli brand, through Gigli SpA, to a company controlled, directly or indirectly, by Mr. Pierluigi Mancinelli. Mr. Mancinelli is the controlling shareholder of Fratelli Prandina SpA, company active in menswear, located in Schio (VI), Italy.

After the sale the It Holding Group will keep the 10-year licenses for Romeo Gigli perfumes (produced and distributed by Roberto Martone's Itf), eyewear (through the subsidiary Allison), and watches, without any royalty payment. It Holding Group can renew these license agreements for other ten years.

'The dismissal of Romeo Gigli is consistent with our focus on strategic businesses with high potentialities' commented Tonino Perna, Chairman and Ceo of It Holding Group.