Nice Footwear is ready for new acquisitions. Meanwhile, to prepare itself, the Vicenza-based company founded in 2004 has bought the remaining 20% of Favaro Manifattura Calzaturiera and Emmegi. With these two operations, Nice Footwear has risen to 100% of the capital of the two SMEs. The objective now is to “become an aggregator pole of small, solid artisan realities with a desire to grow”. “We confirm our intention in the coming months to complete new acquisitions in the accessories sector”, says Bruno Conterno, CEO of Nice Footwear.
100% Favaro
Nice Footwear completed the takeover of the share capital of two companies it already controlled. It acquired the remaining 20% of Favaro Manifattura Calzaturiera. Founded in the 1970s in Fossò (Venice), the company specialises in the manufacture of high-end women’s shoes. Nice Footwear’s acquisition of 80% of the capital dates back to 30 June 2021. At that time, Favaro’s turnover was around EUR 3 million.
100% of Emmegi
The transaction involving Emmegi, a Padua-based company operating in the leather bag sector, was similar. On 19 January 2022, Nice Footwear announced that it had taken over 80% of the capital of the company founded in 1977. Emmegi had ended 2020 with a turnover of EUR 1.8 million. “With the completion of the acquisitions of Favaro and Emmegi, we look to the future by strengthening our commitment to a new positioning in luxury made in Italy”, Conterno comments. The CEO reveals how he has “initiated some due diligence that will allow us to investigate some opportunities” in the accessories sector.
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