Private equity fund FSI has reached agreement with the Missoni family to acquire a minority stake in the Italian brand for an undisclosed amount.
The Missoni family will retain the controlling interest of 58.8% in the 65-year-old business after selling 41.2% to the fund.
The funds will also be used to expand the business, improve the organisational structure and size of the firm to help it become a global player.
Angela Missoni, creative director at Missoni said: “I am confident that with the support of FSI and the strategic vision of the incoming vice-chairman, Michele Norsa, we will be able to lead this precious family jewel into a bright future”.
“The investment in Missoni is an extraordinary opportunity to support the growth of this unique Italian brand into a global leader”, said Maurizio Tamagnini, CEO of FSI. “The Missoni family has impressed us for their passion, creative energy and timeless loyalty to the brand. We are honored to have been chosen by them in this prestigious partnership”.