Clessidra SGR entra in Harmont & Blaine

It closed the operation that led to the Italian private equity fund Clessida SGR in the share capital of Harmont & Blaine SpA with a share of 35% with the aim to support the company's international growth plan and to consolidate its leadership in the field of Upper Casual sportswear.
In addition to the strengthening of the capital, the agreement provides an overall strengthening of the management team with the appointment to AD. of Giulio Guasco (ex Procter & Gamble – Fay – Miroglio – Ralph Lauren). Until the establishment of Guasco, expected by the end of November, the functions of A. D. will be carried out by Paolo Montefusco, historical fashion designer Brand Bassett, that subsequent to the start of Guasco hold the post of Chief Executive Officer.
Domenico Menniti maintain the functions and the position of Chairman of the Company and the Board of Directors. while the engineer Richard Brown, partners Hourglass, were assigned the duties of the Vice President.
“It closes a period of exciting growth that has led our company to the attention of consumers and the world of finance. He opens today another aiming at internationalization and even greater growth - Said the president Domenico Menniti – look ahead, Compact and determined to meet and exceed the goals we have set ourselves, We looked around and we chose what we thought was best suited to a company like ours. Hourglass and the experience he brings with him will dovetail with the undoubted creative qualities of the old Harmont & Blaine making this something new company can take advantage of the opportunities that globalization has brought with it“.
“Hourglass is determined to support with financial and managerial resources to further opportunities for development and growth projects that Harmont & Blaine ha individuato. Today begins an exciting adventure for the company that will see us take an active part – alongside entrepreneurs and management – to the path of internationalization and development company“, said the new vice-president Richard Brown.
The entry of Hourglass SGR in the capital of Harmont & Blaine was carried out through a reserved capital increase aimed to make the necessary resources to international development plan of the company that plans to significantly increase the turnover in the next three years, reaching a critical mass necessary to compete in international markets, favoring a gradual rebalancing of revenues in Italy and abroad.
The growth path drawn by the management of Harmont & Blaine and Hourglass SGR enable the Group to significant growth in the Asian market, on the market in Continental Europe and the US (North and Central and South America). Overall, the next three years and plan to invest 60 million Euros for the development of retail.
In particular, with the opening of new boutique brand, The Group expects the next few years continued growth of the direct sales channel with respect to the wholesale, action that will ensure a steady increase in brand awareness.