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Italian luxury supplier plans creditor talks as demand slows

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2 weeks ago

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Bloomberg

Published



March 27, 2025

Luxury supplier Altofare Group is preparing to kick off debt talks with its creditors as spending on high-end goods declines. 

Altofare Group

The company, which oversees a group of Italian suppliers to the luxury world, has hired KPMG and law firm Chiomenti for advice on its debt, according to people familiar with the matter, who spoke on condition of anonymity because the details aren’t public. Altofare is owned by private equity firm White Bridge Investments. 

One of Altofare’s main operating units, Lampa Srl, owed €145 million ($157 million) in loans to a pool of banks including Banco BPM SpA, Credit Agricole SA and Intesa Sanpaolo SpA as of the end of 2023, the latest available annual statements show. The debt comes due between 2028 and 2029, but there are amortization payments the company must make every six months, according to the document. 

Representatives for Banco BPM, Credit Agricole and KPMG declined to comment. Altofare, Chiomenti and Intesa didn’t immediately return a request for comment. 

The market for personal luxury goods experienced its first contraction in 15 years in 2024 as economic uncertainty and rising prices dented spending, according to a recent report by Bain & Co and Fondazione Altagamma, the trade association of Italian luxury goods manufacturers. Over the years, Altofare assembled a stable of brands — including button- and accessories-maker Lampa — specializing in metal finishes, jewels, resins and shoe accessories.

The company had previously been in conversations with the banks about a covenant breach at the end of 2023, but that was resolved by modifying the terms, according to the annual statements.
 



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Levi overlooks tariff-driven trade upheaval in unchanged outlook

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44 minutes ago

on

April 7, 2025

By


By

Bloomberg

Published



April 7, 2025

Levi Strauss & Co. maintained a full-year outlook that excludes any impact from sweeping new US tariffs that are poised to significantly raise costs for multinational apparel companies.

DR

The San Francisco-based company said its guidance for fiscal 2025 “assumes no significant worsening” of macroeconomic pressure on consumers, supply-chain disruptions, increased tariffs or similar factors. Levi sees organic revenue growth, which excludes items such as currency impact and divestments, growing 3.5% to 4.5% this year.

Shares alternated between gains and losses in extended trading. Since President Donald Trump announced the tariffs on April 2, the stock has declined 19%.  

Chief Financial Officer Harmit Singh said in an interview it’s “difficult to forecast or plan at this stage” for the tariffs’ impact on consumers. He said the company is focused on its relationships with vendors and the cost base for its products. 

Chief Executive Officer Michelle Gass said the company is approaching the topic of tariffs with “urgency, but not being overly reactive.” 

Levi is one of the first retailers to report earnings after Trump unveiled sweeping tariffs last week. The company has previously said that its sourcing from China and Mexico to the US isn’t material.  

The company says it sources about 5% of its goods in the US from Mexico and 1% from China. 
 



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Balenciaga and Scholl launch footwear collaboration

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1 hour ago

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April 7, 2025

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Balenciaga has teamed up with Italian heritage brand Scholl to launch a footwear capsule collection.

Balenciaga and Scholl launch footwear collaboration. – Balenciaga x Scholl

The capsule merges the Parisian fashion house’s savoir-faire with Scholl’s expertise in comfortable orthopaedic footwear and insoles to introduce footwear with cork soles and footbeds, including heeled mules, booties, and boots, flat sandals and mules crafted from premium materials like Nappa sheepskin and calfskin. 

Notable design features include metal buckles inspired by Scholl’s original 1956 Pescura sandal and reimagined beechwood platform clogs with perforated uppers. The collaboration also introduces co-branded versions of Balenciaga’s iconic Pool Slide Sandals.

Debuting as part of Balenciaga’s Fall 2025 collection, the collaboration stems from creative director Demna’s vision “to create the most comfortable heels ever made, infusing the House’s distinctive silhouettes with Scholl’s unparalleled comfort.”

The collection is now available at select Balenciaga boutiques worldwide and online.

Last month, Balenciaga launched a Brand Ambassador Fanclub Series, featuring a lineup of global icons, including Isabelle Huppert, Kim Kardashian, Michelle Yeoh, Nicole Kidman, and PP Krit Amnuaydechkorn.

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Gente Beauty secures investment from Webster Capital

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2 hours ago

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April 7, 2025

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Brazilian body care brand Gente Beauty announced on Friday a significant investment from private equity firm Webster Capital. 

Gente Beauty secures investment from Webster Capital. – Gente Beauty

Gente Beauty is the first skin and body care brand to offer lymphatic-drainage products, recognizing the importance of treating your body with the same care as your face. Financial terms of the transaction were not disclosed.

“This partnership with Webster Capital is a game-changer for Gente Beauty. With their support, we can expand our reach and continue redefining body care through innovation and Brazilian beauty rituals,” said Marianne Fonseca, founder of Gente Beauty. 

“Our mission has always been to empower people to care for their bodies with intention, and this investment brings us one step closer to making self-lymphatic drainage an essential part of everyday wellness.”

As part of the investment, Webster Capital, known for its strategic focus on consumer-packaged goods, direct-to-consumer e-commerce, and retail expansion, will bring its institutional knowledge and operational support to help scale the brand. 

Tony Olson, founder of Webster Capital, brings a wealth of experience to the partnership. Previously, he served as CEO of Spins for over two decades, transforming it into a leading provider of market insights for the natural, organic, and wellness sectors.

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