Replay majority stake bought by new investors
An acquisition vehicle has bought a majority 60% stake in Fashion Box SpA the owner of denim brands Replay, We Are Replay and Replay & Sons denim.
The acquisition vehicle, Equibox Holding, is controlled by Matteo and Massimo Sinigaglia, who were partners in the Replay footwear business, and Wolfgang Friedrichs, who was a partner in Replay’s German operation.
The Sinigaglia duo own 70% of Equibox Holding and Friedrichs owns 30%.
The remaining 40% of the company has been retained by its original owner, Fashion Box Group SpA, a holding company owned by the family of the late Claudio Buziol, who founded Replay in 1978.
“We are particularly happy that Equibox Holding SpA has proved to be the partner who best guarantees a solid industrial development for the Replay brand,” said Paola Buziol, president of Fashion Box Group SpA. “In these fragile times of market recession, this solution gives us better guarantees of industrial continuity and the ability to stay strongly rooted in the territory, which has allowed our company, since its inception, to develop products made in Italy.”
Following the deal, Replay’s headquarters will remain in Asolo, Italy.
Matteo Sinigaglia will become managing director of Fashion Box. It is unclear if current chief executive officer Gaetano Sallorenzo will remain at the company.
“We are very happy to have reached an agreement with Fashion Box Group SpA for the development of a historic brand in denim like Replay,” he said.
Fashion Box sales amounted to Euro 350m (£312m) during 2008 and the Replay brands are sold through 5,000 doors in 50 countries, including a network of 220 standalone stores.
In the UK the brand is sold in retailers including department store House of Fraser and Edinburgh based independent Xile.