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Published
Sep 27, 2021
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Style Capital takes 40% stake in LuisaViaRoma, share listing likely

Published
Sep 27, 2021

Major ​Italian luxury e-tailer LuisaViaRoma is targeting an even bigger league following new investment from Roberta Benaglia’s Milan-based equity fund Style Capital.​


LuisaViaRoma's Florence flagship. Photo - @leo-casalini



Its CEO Andrea Panconesi retains 60% and control of the firm with Style Capital taking a 40% stake and the business declaring it will later follow other big names such Farfetch and Mytheresa with a public share listing.

Style Capital already has majority control of Australia-based Zimmermann, as well as a minority holding in MSGM and stakes in Forte Forte and Re/done. This latest development raises its profile even further in high-end fashion as it invests €130 million into LuisaViaRoma.

It’s unclear how quickly a listing might happen but Panconesi talked of the aim as being in the not-too-distant future.

It will be a big change for the business that dates back to the year of the Wall Street Crash (1929) so is approaching its century. It was founded by Panconesi’s family and moved into e-tail in 1999 when it was already 70 years old.

It’s now primarily focused on its webstore with online revenue accounting for the biggest chunk of its €187.5 million revenues. Its revenues were 13% higher last year and have tripled since 2012. Its EBITDA last year was €2 million and net profit was €0.5 million.

The company will use the new funding to grow its tech platform and expand internationally. The deal will close by year-end and although the CEO retains control of the business, Style Capital will get a major voice in its developments and decision-making.

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