Tomorrow Group acquired by Italian investor Progetto 11

London-based brand development firm Tomorrow Group has found a new owner in Progetto 11, the Italian holding company of e-tailer The Level Group. Andrea Ciccoli, co-founder of The Level Group, confirmed the news to WWD, stating that the deal would “ensure the operational continuity” of the fashion platform.

While financial details were not disclosed, it was revealed that previous shareholders will be exiting the business, including founder and chief executive officer Stefano Martinetto. Tomorrow’s showrooms in Milan, Paris and New York are expected to remain in operation.

In a statement to WWD, Ciccoli underlined the unique positioning of Tomorrow, yet stated this was a “moment of wholesale disruptions and market challenges and The Level Group will help support and stabilise the platform and enable its evolution to address brand needs”.

“We bring a digital direct-to-consumer experience so this is an opportunity to reinterpret Tomorrow’s wholesale approach in a more digital integrated perspective,” Ciccoli continued. “With our solid financial base, we can help accelerate Tomorrow’s business and expand their brand portfolio.”

Over the past year, financial volatility has seemingly been bubbling away under the seams at Tomorrow Group, the co-owner of brands like Martine Rose, Coperni, and Charles Jeffrey Loverboy.

Rose cancelled her autumn 2026 show. Reports have suggested the designer is attempting to buy back Tomorrow’s stake in the business. Coperni also didn’t participate in the latest season of Paris Fashion Week, with the brand’s founders citing a flailing relationship with Tomorrow as the reason.

In an interview with WWD last year, Martinetto confirmed a drop in Tomorrow’s 2024 sales. The company also offloaded A-Cold-Wall and London retailer Machine-A, reducing its portfolio size.

Cristian Musardo, co-founder of The Level Group, recognised the “structural shift” underway in the industry, and the need for platforms to adapt.

“Our immediate focus is to ensure continuity for the brands, teams and partners that rely on this platform, while we work to build a more sustainable and integrated model for the future,” Musardo added.