The deal was signed by Swinger International, led by Mathias Facchini, and 21 Invest, the private equity fund founded in 1992 by Alessandro Benetton, which acquired a majority stake in the French brand in July 2016, when it was known as 21 Investimenti. Swinger International also owns Genny, produces the Just Cavalli collections and, as of this morning, holds a minority stake in Etro.
Philippe Model, an artist and painter, founded his eponymous label in Paris in 1978. In the 1980s, he created the innovative and highly successful ‘Elastique,’ a comfortable heeled shoe constructed with elastic straps. Throughout his career, he collaborated with leading Parisian designers and houses, including Christian Dior, Claude Montana, Lanvin, and Jean-Paul Gaultier.
The company expanded from haute couture accessories to interior design projects, and in 2008 it was relaunched as a maker of premium sneakers for men and women, with all footwear produced in Italy’s Riviera del Brenta footwear district. Its 2024 turnover is estimated by the business press at around €30 million.
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