Style Capital acquires majority stake in sneaker brand Autry at a €300m valuation

Style Capital, a Milan-based private equity fund, has announced its acquisition of a 50.2 percent stake in premium sneaker brand Autry. The deal, valued at €175 million, implies a company valuation of approximately €298.7 million. The acquisition sees Style Capital buying the stake from The Made in Italy Fund and the brand's founders, the Doro family. Notably, Style Capital were the previous owners of Zimmermann before offloading it to Advent International last year.

Transaction snapshot:

  • Deal value: €175 million for a 50.2% stake
  • Deal multiples: ~2.7x revenue
  • Deal type: Majority stake acquisition
  • Investors: Style Capital with shares being sold by The Made in Italy Fund and the Doro family

This strategic move by Style Capital aims to further Autry's impressive growth trajectory and secure its position in the global market. The deal underscores the fund's commitment to fostering sustainable, long-term expansion both domestically and internationally.

Autry, which has successfully revived the American sneaker aesthetic of the 1970s and 1980s, reported sales exceeding €110 million in 2023. The brand has established a significant presence in around 750 multibrand boutiques worldwide, with its digital channel contributing to approximately 20 percent of total sales.

The agreement is set to initiate a retail expansion in Italy and internationally, including the launch of over 20 monobrand stores in prime luxury locations. This effort aligns with the ongoing development of Autry's digital channel and the consolidation of its international wholesale distribution.

Marco Doro, Autry's co-founder, expressed enthusiasm for the partnership with Style Capital, citing its extensive industry knowledge and proven investment history as key factors for supporting Autry's future growth and retail strategy.

With this acquisition, Style Capital aims to leverage its experience in building iconic brands to enhance Autry's market positioning and expand its global footprint. The investment reflects Style Capital's strategic focus on premium fashion and its potential for generating significant growth and international presence.

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