PAL ZILERI and CERRUTI to emerge from crisis under the same ownership

The newly formed Italian French holding company owned by businessman Matlin Patterson which includes PAL ZILERI and CERRUTI announced this week 2010 is a transition year towards stable results, and a return to profitability is expected in 2012. The group is currently reviewing licenses of PAL ZILERI and are looking for a licencee for the 1881 women’s line of CERRUTI. The group CEO Mr Florent Perrichon also announced the CERRUTI brand will not produce menswear, instead focusing on women’s line.