Chinese group Modern Avenue has completed the acquisition of Levitas’ shares which, in turn, controls the brand Bikkembergs. The group, which already held 51% of shares, now holds 100% of the brand, after taken over 24.5% from Zeis Excelsa and the remaining (identical) share from Sinv, a company from Vicenza, thus becoming the sole owner of Levitas. Talking about licenses, the footwear one with Zeis Excelsa has not been renewed and was entrusted to Global Brands Group, while the one with Sinv for clothing is confirmed. Bikkembergs now produces and distributes a single line with which Modern Avenue wants to grow in Europe, Russia and China. “The current decision is to unify the lines in a single soul under Bikkembergs. The line, exhibited at Pitti Uomo, will affect all product categories, from accessories to textiles, to leather and beachwear” said Levitas COO, Dario Predonzan to MFFashion. 70% of Bikkembergs turnover is generated abroad. “Some customers are coming back to us and in the meantime we are focusing on franchising and e-commerce. In Europe and Italy we have to rebuild the network, while the future goal will be China, but also a bigger presidium of Russia”, concluded manager. (mv)
Pictures from bikkembergs.com
