Miroglio Acquires Trussardi: A New Chapter in Italian Fashion

The Italian fashion conglomerate, Miroglio, is set to acquire Trussardi, another iconic figure in the Italian fashion industry. This move was originally anticipated by FashionNetwork.com back in January, sourced from Bloomberg, following a period filled with speculation. Informed sources divulged to FashionNetwork.com that a ruling from the Milan court led to the imminent sale of the Italian luxury brand to Miroglio.

Reportedly, this sale decision had been reached just recently and it covers the brand's trademark and some outlets. It is also expected to include some, but not entirely all, of the Trussardi employees. However, the historic Palazzo Trussardi, located in Piazza della Scala in Milan's epicenter, will remain unsold and return to the owning family.

Trussardi, a celebrated name in ready-to-wear fashion, was established in Bergamo by its namesake family in 1911. In 2019, QuattroR, an investment fund based in Milan, acquired a controlling 60% stake in the company, although the Trussardi family retains the remaining 40%.The brand, known for its greyhound logo, retails ready-to-wear outfits for both men and women, alongside a wide range of accessories.

However, the label's existence had been threatened by ongoing financial strife that led to a protection plan. As of March 2023, Trussardi was debt-ridden, being over €50 million in arrears, prompting the intervention of 3X Capital, a Bergamo-based firm led by Angelo Rodolfi, to orchestrate company restructuring. This internal turmoil led to the CEO Sebastian Suhl, and designers Serhat Isik, Benjamin Alexander Huseby departing from Trussardi in March 2023.

Despite these setbacks, Trussardi ventured into the real estate sector and launched a sustainable hotel amenities line in collaboration with Groupe GM last October.

Meanwhile, the discreet Miroglio group declined to issue comments to queries from Fashion Network.com. Subsequent attempts to seek clarification from the Trussardi's representatives proved unsuccessful.

Miroglio Group, launched in 1947 in Alba, Piedmont, has a global presence with operations in the textiles, women's wear, and retail industries. The company operates in 22 different countries, serves five million clients, and has four factories. Alberto Racca has steered the company as CEO since 2019, with Giuseppe Miroglio from the founding family's third generation serving as the president. His sister, Elena Miroglio, holds the position of president in Miroglio Fashion.