MILAN, March 22 (Reuters) – London-based investment firm NEO Capital has bought a majority stake in Italian luxury handbags maker Valextra in expectation of a possible initial share offering.
On Friday Milan-based Valextra, known for its leather handbags in bright colours, said NEO Capital invested following a capital increase.
Founded in 1937 as a leather goods shop in central Milan, Valextra is among Italy’s family-owned upscale brands seeking outside investors to fund international growth.
The company, which booked sales of 13.5 million euros last year, did not provide further financial details about the deal.
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Neo Capital bags Italy luxury brand Valextra
