Agnellis’ Exor Teams Up to Invest in Teen Fashion Brand Subdued

Traders together with Italy’s billionaire Agnelli household purchased a stake in ladies’s vogue model Subdued, a stylish favorite amongst Italian teenagers.

NUO, a longtime partnership between the Agnelli’s Exor NV and Hong Kong household workplace World-Large Funding Firm Restricted, mentioned in a press release Tuesday that it bought 30 p.c of Osit Impresa SpA, which operates underneath the Subdued model. No monetary figures had been offered.

The Agnellis, descendants of the founding father of automaker Fiat, management 50 p.c of financial and voting rights at NUO by Exor, in accordance with the holding’s web site.

Beneath the management of John Elkann, Exor has been diversifying past its roots within the auto trade to investments in well being care, tech, monetary providers and luxurious.

The holding controls tremendous carmaker Ferrari NV, Juventus Soccer Membership SpA and The Economist Group, and has vital stakes in Stellantis NV and Koninklijke Philips NV.

Rome-based Subdued, based within the Nineteen Nineties, reported round €120 million ($130 million) of consolidated web gross sales in 2023, of which greater than 50 p.c overseas, in accordance with the corporate. The model operates in Italy, Spain, the UK, France and Germany, amongst different nations, by 85 instantly operated shops.

Milan-based NUO mentioned within the assertion that the funding is consistent with its concentrate on high Italian firms within the client items sector. Its has holdings in manufacturers together with Montura sportswear, Bending Spoons software program and Ludovico Martelli private care.

By Tiago Ramos Alfaro and Alberto Brambilla

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