Philipp Plein acquires Billionaire Italian Couture
Philipp Plein has acquired 51% of the fashion brand Billionaire Italian Couture from Flavio Briatore. Philipp Plein reportedly paid 30 million euros for a 51% controlling stake in the Italian brand which is present in 24 countries with 30 mono-brand stores.
Billionaire Italian Couture was founded in 2005 by former commercial director of Benetton and F1 team boss Flavio Briatore, with the objective of expanding the lifestyle range of its famous Billionaire luxury nightclub, located in Porto Cervo, Sardinia. In 2007, the Percassi group, specialised in distribution and real estate and owner of brands such as beauty retailer Kiko, became a shareholder. Since 2014 the label has been managed by Laura Manelli and repositioned exclusively in menswear. Billionaire Italian Couture is available in more than twenty countries through a network of about thirty stores, and in 2014 it generated a revenue of €20.85 million.
As for Philipp Plein, the label generated a revenue of €170 million in 2015, and for this year it plans to reach €198 million. The label is entirely self-financed, with headquarters in Lugano, Switzerland. It is distributed in more than 60 countries through 600 multi-brand clients (with 800 stores) and 73 mono-brand stores.