Moretti gets private equity backing
11/12/2013
Alberto Moretti comes from the Moretti family whose Tuscan factories have been making shoes for several generations and still work for brands including Salvatore Ferragamo, Gucci, Prada and sister label Church's. Mr Moretti launched his own brand three years ago and sells them in 200 stores.
Moretti is estimated to make annual revenue of just under EUR 10 million euros and plans to open a shop in Abu Dhabi in the next few weeks and later in Milan, Jakarta and Dubai. His company received attention this year by selling shoes made with 24-carat gold in Dubai for $4,800.
The world shoe market is one of fastest-growing segments in the luxury industry, according to consultancy Bain & Co.
Last month, Permira bought Dr Martens, and in October KKR and Sycamore Partners were rumoured to be circling the Jones Group.
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