Bruno Magli to be sold for 50m euro to South Korean investors
Italian luxury leather-wear house of Bruno Magli (founded in 1936) has been reporting negative results for the past five years, accummulating debt and slowing down output and retail. Italian media reports that Bruno Magli which is distributed in 31 countries worldwide could be acquires by a South Korean investment consortium including E-land e CDIB Capital for 50 million euros. E-Land is one of Asia’s largest apparel and accessories retailers with over 10.000 stores.
Bruno Magli is also distributed through its own e-commerce as well as major e-tailers in the U.S. Apart from 11 mono-brand boutiques, the brand is also featured at major department stores around the world. Bruno Magli operates its main flagship in Milan on Via Montenapoleone.