More growth on the cards as Italian footwear retailer changes private-equity hands
05/12/2014
Founded in the 1920s by the Pittarello family and transformed into a family-run retail chain, PittaRosso was acquired by 21 Investimenti in 2011.
In that time it has more than doubled its store network and revenues and has a network of over 100 stores and has a growing international presence with around 20 stores across France, Croatia and Slovenia.
PittaRosso is expected to generate revenue of around €240 million in the year to December 2014.
Javier Ferran, a partner of Lion Capital, said: “Over the last three years, PittaRosso has emerged as the best proposition in the Italian footwear market, one of the largest globally. Andrea Cipolloni and his team have done an outstanding job in expanding the store network profitably and we see substantial untapped potential for the business, both domestically and abroad.
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