The owner of Mammut Sports Group AG is exploring a sale of the Swiss outdoor gear maker, people familiar with the matter said. Jacobs Capital is seeking more than €500 million ($584 million) from a potential sale of the company, according to the people. Jacobs and Mammut are working with Houlihan Lokey Inc., they said.
Technical clothing by Mammut – Mammut
Deliberations are preliminary and might not result in a transaction, the people said, asking not to be identified because the information is private. Spokespeople for Jacobs Capital, Mammut and Houlihan Lokey declined to comment.
Mammut, founded in 1862, makes premium gear for mountain sports. It was bought in 2021 by Telemos Capital, which last year combined with the family office that managed the wealth behind Swiss chocolate dynasty Barry Callebaut AG. In addition to Mammut and Barry Callebaut, the combined entity- Jacobs Capital- owns assets including Cognita Schools and health-care companies.
Sports gear has gained popularity among strategic and financial buyers on strong consumer interest in fitness and equipment. Anta Sports Products Ltd., which bought Jack Wolfskin in a $290 million deal last year, is also weighing a bid for Puma SE, people familiar with the matter have said.
Major developments are on the cards in 2026 for Trucco Tessile, the Cuneo-based Italian producer of pyjamas, underwear and loungewear. Trucco Tessile has bought, for an undisclosed amount, Italian homewear brand Happy People, renowned for its cheerful, insouciant, creative and colourful style. “The acquisition marks a new chapter in the history of [Trucco Tessile], as the group aims to continue to grow and innovate while abiding by its values of quality, creativity and care for people,” said Agostino Trucco, CEO of Trucco Tessile since January 1, speaking to FashionNetwork.com.
Happy People
Happy People was created with the goal of fostering joy and good cheer, and is well-known for its family-oriented collections and its distinctive depictions of two characters, a wolf and a sheep, that have become symbols of affection, close familiarity and good humour. “Happy People is much more than a brand, it’s a way of looking at life with joy,” said Trucco. “Welcoming [Happy People] into our family means believing in the value of emotions, in the power of a smile, and in the strength of stories that unite people. It’s a development that looks to the future with confidence, and goes hand in hand with our desire to keep innovating without losing our sense of humanity,” he added.
“[Happy People] is a label that has made history in its segment, so it cropped up on our radar. Let me underline that the company wasn’t going through a rough patch, business was buoyant, the owners simply decided to sell,” said Trucco. “As a result, we’re dealing with a brand (since we bought just the brand name – and only the rights relating to the apparel, pyjamas and underwear categories – we didn’t buy the company that produces Happy People) that is sound and well-established. It has an extremely strong identity, and is an interesting complement to our portfolio,” he added.
Trucco Tessile’s new acquisition is vertically integrated and has a strong product focus, complementing the Cuneo group’s nightwear know-how. The group’s portfolio also includes Julipet, a high-end men’s underwear brand, Boglietti, a women’s lingerie brand whose positioning was recently elevated from the market’s mid-range to the premium segment, and Alpina, a mid-range women’s and men’s underwear brand. “Style-wise, Happy People is entirely different from Boglietti, which targets elegant, understated and sophisticated women. Happy People’s brand narrative is fun, amusing and family-friendly,” said Trucco. “Besides, Happy People is a concept that goes beyond a mere product, pyjamas, and tells a love story – a strictly platonic one – between a wolf and a sheep.”
Happy People
Happy People’s household linen range remains instead, as before, the property of Italian Textile Company, based in Ferno, near Varese. Trucco Tessile is planning to expand Happy People’s retail footprint both in Italy and abroad through the wholesale and e-tail channels. The brand is currently distributed via some 400 stores in Italy, Belgium, Spain, Germany and Greece.
In 2024, Trucco Tessile generated a revenue of €9 million, with e-tail sales growing and accounting for 10% of the total. “Through the new three-year business plan I have drawn up,” said Trucco, “we’ll try to align our three channels, i.e. e-commerce, the DTC channel consisting of our physical stores (we have a dozen) and the wholesale business, to become as much as possible an omni-channel company.”
As for Trucco Tessile’s other brands, Boglietti has developed a range that utilises natural fabrics like cotton, cotton-linen and cotton-bamboo blends, characterised by an “elegant, pared-down style consistent with the brand identity strategy we have implemented for the underwear and nightwear lines,” said Trucco.
Happy People
Julipet’s new nightwear is an ode to colour: “we’re well aware that blue is the colour of the night and of Julipet, and is synonymous with elegance, but we’re bringing alternatives to the market. Our watchwords this year are colour, colour, colour. The same goes for [Julipet] swimwear, and of course there’s a whole range of Julipet apparel, chiefly travelwear, featuring ultra-resistant, breathable, fresh and lightweight high-tech fabrics. Our new Oxford line, with a dozen SKUs, is absolutely innovative. It’s a highly streamlined range in a wide variety of colours, whose key feature is the use of high-tech fabrics with specific functions. The garments are comfortable, extremely functional, and highly suitable for people who travel a lot,” said Trucco.
Alpina, which operates a handful of monobrand stores in Piedmont and is designed for everyday use, has functionality as its key feature. The brand’s hero products are its signature pyjamas, but Trucco Tessile is working to expand Alpina’s assortment to include sportswear, starting from the Fall/Winter 2026-27 season.
Le Tout Paris celebrated France’s most famous fashion writer Sophie Fontanel this weekend, when the noted scribe was awarded the Chevalier de Légion d’Honneur.
Sophie Fontanel
Presented inside the Left Bank’s most happening art space Nemmours Gallery, there was practically designer gridlock at the event: with Jean Charles de Castelbajac, Simon Porte Jacquemus, Alexandre Mattiussi, Rabih Kayrouz, Elite Top, and Ines de la Fressange all in attendance.
After celebrating her 21 published books, dating back to her 1995 debut Sacré Paul, French costume designer and film producer Rosalie Varda pinned the famed medal onto the lapel of the classic two-button black Yves Saint Laurent jacket Fontanel wore with white sailor pants.
Sophie Fontanel with guests
“When I acquired this jacket in a vintage store, the boutique owner told me when I put it on that it would lead to something historic. And looks like he was right,” joked Fontanel, whose invitation read Sacré Sophie.
In a novel touch, the new chevalier pinned personal notes to scores of guests on the gallery’s white walls. “Honour to Veronique Nichanian for our so French stateless voyages,” read one referring to Hermès soon to depart menswear designer. “Honour to Simone Porte Jacquemus, for a regard that says everything,” or “Honour to (documentary filmmaker) Loïc Prigent for the fraternité carried out to this extent.” While de Castelbajac was lauded for his “true nobility. A smile.”
Notes by Sophie Fontanel
Colleagues were also kindly treated: Madame Figaro’s fashion editor Delphine Perroy praised “for the smile that heals everything,” while yours truly had a note that read: “Honour to Godfrey Deeny for the tender authority.”
In an impressive career, Fontanel has been editor in chief of French Cosmopolitan; TV star Nulle part ailleurs- France’s number one talk show of the 90s; Grand Reporter of Elle; and, for the past decade, columnist for news weekly L’Obs. Plus, her pithy commentary on all things fashionable has won her 489K followers on Instagram.
Sophie Fontanel’s note to Godfrey Deeny
Not bad going for a lady whose grandmother fled the Armenian genocide to France a century ago clutching, legend has it, a page of Vogue up her sleeve.
The house of Dior has named UK actor Josh O’Connor to be its latest brand ambassador, joining soccer legend Kylian Mbappé in the brand’s style diplomatic corps.
Josh O’Connor for Dior – George Eyres
“Dior is delighted to welcome Josh O’Connor as the new ambassador for Jonathan Anderson’s collections,” the Paris-based house said in a release.
The actor had previously been a presence at several runway shows of J.W. Anderson, who was appointed overall creative director of Dior in June 2025.
O’Connor first grabbed attention and international fame with his performance as Prince Charles in hit series The Crown- for which he won a Golden Globe Award for Best Actor .
Subsequently, he has garnered critical acclaim in a variety of films, including Luca Guadagnino’s Challengers, in which he wore clothes designed by Anderson in this studied melodrama about competing players and emotions in tennis.
O’Connor has also worked with Guadagnino in an ad campaign for Aston Martin, shooting an elegiac road movie short in sun-dried Sicily.
“Josh O’Connor embodies a singular, sensitive, and undeniably modern expression of masculine elegance, perfectly in sync with the contemporary Dior style,” added Dior about the Cheltenham, England-raised thespian.