Etro: Founding family reportedly set to exit; Rams Global among new shareholders

A shareholder restructuring is on the horizon for Etro. According to the newspaper Mff, the founding family is reportedly preparing to sell its stake to new investors.

Gefin is therefore set to exit, with plans to sell its stake to Turkish group Rams Global. L Catterton will reduce its holding to 51 percent, whilst a consortium including Mathias Facchini of Genny and Sri Group with Giulio Gallazzi is expected to acquire a stake in the brand. According to the Milan-based newspaper, the deal is expected to close tomorrow.

FashionUnited has contacted Etro for comment.

Rams Global is behind the Rams Beyond Istanbul project, a residential development overlooking the Bosphorus in Turkey spanning 11,700 square metres. The development comprises 471 apartments of various sizes under the Etro Residences brand.

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