Report: Carlyle Pushing Ahead With Sale of Italian Fashion Brand Twinset

US non-public fairness agency Carlyle Group is pushing forward with the sale of Italian vogue model Twinset, asking potential bidders to submit non-binding gives, two sources near the matter stated on Friday.

Carlyle, which picked Rothschild as monetary adviser earlier this yr, is aiming for a valuation of round 300-350 million euros, one of many sources stated.

Teasers have been just lately despatched out to potential traders, a second supply added.

In January newspaper Il Sole 24 Ore reported that the model was exploring a sale and that it may entice curiosity from Asian funding teams.

Carlyle purchased 72 p.c of Twinset in 2012 and raised its stake to 90 p.c in 2015. In 2017 it gained full management of the model by shopping for the remaining 10 p.c stake from founder Simona Barbieri.

In 2020 Carlyle tried to promote the corporate, however the deal was placed on maintain as a result of pandemic.

The model, which is targeted on womenswear with attire promoting for 130 euros upward, is struggling to return to pre-COVID income and revenue ranges.

Twinset posted a 2023 core revenue of 34 million euros on income of simply over 200 million, Il Sole 24 Ore reported.

Rothschild declined to remark. Carlyle didn’t reply to a request for remark.

By Elisa Anzolin; modifying by Jason Neely

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