Italian retail developer Evante has reportedly acquired knitwear firm Malo, pending the approval of the ministry of economic development.
Evante, which counts Louis Vuitton, Prada and Abercrombie & Fitch as clients, is understood to have outbid sock and knitwear firm Ciocca, Enzo D’Addario, which largely deals in the automotive market and entrepreneur Michele Prestipino.
Luxury Italian fashion house IT Holding received four expressions of interest for its Malo brand in early June. IT Holding, which also controls the Gianfranco Ferré label and manufacturing arm Ittierre, has been in government-backed bankruptcy protection since February 2009.
IT Holding is also auctioning its fashion house Gianfranco Ferré and Ittierre, producer of collections Just Cavalli and Ermanno Scervino.