Bruno Magli shuts down own production in effort to return to profit
Italian premium leatherwear maker BRUNO MAGLI, which was founded in 1936 announced it would close its own production facility in Bologna, Italy and resort to outsourcing. The company’s new CEO, Armin Mueller, formerly CFO at Jil Sander told WWD he is confident that his new strategy can bring the company back to profit as early as 2013. Bruno Magli is owned by British investment fund Fortelus Capital who purchased the company in 2007. A new showroom in Milan and a 10% increase of its handbags and small leather goods lines are also part of Mueller’s new stratgy for Magli.