ETRO has revealed a strategic partnership with LVMH-backed fund L Catterton Europe to start a new phase of growth.
ETRO was founded in 1968 as a textile firm and is still known to this day for its prints. The brand now makes womenswear, menswear, accessories, beauty and fragrances, and home goods. Their products are sold through around 140 high-end retail stores and are also available in a number of luxe department stores and upscale e-tail sites. L Catterton Europe has taken a majority stake in the company, around 60 per cent, whilst the Etro family retains a significant minority holding.
According to ETRO, the company will “leverage L Catterton’s deep investment expertise, category knowledge, consumer insights, and strategic relationships with LVMH” to allow ETRO to significantly grow and become “one of the leading high-end brands across product categories.”
Gerolamo Etro, Founder and Chairman, commented: “My family and I take great pride in having established ETRO as a strong luxury brand that resonates with consumers around the globe. L Catterton has a shared vision and a unique appreciation for our business, and the firm takes the same approach to partnership our family does. After nearly 55 years under our stewardship, we believe that together with L Catterton, Etro can enter its next chapter of growth and solidify its place as one of the great, lasting luxury houses.”
