New investment leads Lotto to dream big
Italian footwear and sportswear manufacturing company Lotto Sports has announced a new partnership with New York-based brand acquisition and management firm WHP.
Under the new agreement, WHP has acquired the global intellectual property rights for the Lotto brand, providing new financial investment in Lotto Sports. The current Lotto Sports team, under chief executive, Andrea Tomat, will continue to operate the Lotto brand in Italy and the rest of Europe, as well as in the Middle East and Africa.
Mr Tomat said this would be a key step towards ensuring the growth of Lotto. He said the partnership with and investment from WHP would put Lotto in a position to be able “to compete at the highest levels and become one of the most loved sportswear brands in the world”.
He added that the brand’s values, which he listed as a love of sport and a commitment to innovation, well-being, lifestyle, and Italian taste, would be “the strengths we will invest in to ensure a growing presence in key international markets”.
