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Former Gucci CEO to take minority stake in Elisabetta Franchi
Global Banking & Finance Review®
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MILAN (Reuters) – Former Gucci chief executive Marco Bizzarri said on Thursday he would invest in Italian fashion brand Elisabetta Franchi, taking a stake up to 23% of the company.
MILAN (Reuters) – Former Gucci chief executive Marco Bizzarri said on Thursday he would invest in Italian fashion brand Elisabetta Franchi, taking a stake up to 23% of the company.
Bizzarri will be appointed chairman of the group, which has said it expects to report revenues of 170 million euros ($184.48 million) in 2023, with an operating profit margin equal to 32% of revenues.
“This new chapter of my professional life will focus on investments in valuable companies and human resources”, Bizzarri said in the statement, adding that he aims to keep investing through his Nessifashion holding in companies operating in the fashion and luxury sector both in Italy and abroad.
($1 = 0.9215 euros)
(Reporting by Elisa Anzolin, editing by Gavin Jones)
Equity represents ownership in a company, typically in the form of shares. It reflects the value of an owner's stake in the business after liabilities are deducted.
Investment refers to the allocation of resources, usually money, in order to generate income or profit. It can involve purchasing stocks, bonds, real estate, or other assets.
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