The Brazilian conglomerate has invested 25 million euros to take over 65 percent of the Italian label, marking its first international acquisition, which will be followed by the one of a shoe factory in Tuscany.
Paris – Arezzo & Co. is stepping up its game, opening a new chapter in its 50-year-long history.
The Brazilian conglomerate grouping brands such as Arezzo, Schutz and Alexandre Birman has acquired a majority stake in hip Italian footwear label Paris Texas, WWD and Footwear News have learned.
In particular, Arezzo & Co. has invested 25 million euros to take over 65 percent of the brand Annamaria Brivio launched in 2015, which generated sales of around 15 million euros last year.
Marking the group’s first international acquisition, the deal will be officially revealed Friday morning at a joint event during Paris Fashion Week.
