Mariella Burani says gets interest from investors

Fri Mar 28, 2008 10:05pm GMT
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MILAN, March 28 (Reuters) - Italian fashion group Mariella Burani (MBFG.MI: Quote, Profile, Research) said on Friday that private equity firms had approached it and its leather goods unit, Antichi Pellettieri (AP.MI: Quote, Profile, Research).

It made the statement after Italian daily MF reported that private equity firm 3i Plc (III.L: Quote, Profile, Research) was in talks with the Burani family to a buy a stake in Antichi Pellettieri.

Mariella Burani said it had received "preliminary approaches" from firms, but "no firm proposals" had been made.

3i could not be reached for a comment.

Antichi Pellettieri, whose accessories brands include Coccinelle and Francesco Biasia, is 55 percent owned by the Burani family.

The family also holds about 59 percent of Mariella Burani Fashion Group.

As rising incomes in emerging economies feed global demand for luxury goods, the sector has lured a growing number of private equity firms.

At the same time, heightened competition is pushing family-owned businesses in the sector to look at ways to raise cash for investments.

Last year, Permira bought Valentino for $3.8 billion.  Continued...