MondeVita's Strategic Acquisition of Raffaele Caruso S.p.A. Enhances Luxury Portfolio

MondeVita Completes Acquisition of Raffaele Caruso S.p.A.

In a significant move poised to reshape its luxury portfolio, MondeVita, a lifestyle division of Mondevo Group, has successfully completed the acquisition of Raffaele Caruso S.p.A. from the Lanvin Group. This strategic transaction, conducted through MondeVita Italy S.r.l., positions Caruso at the heart of MondeVita's future endeavors in the high-end fashion sector.

Established in 1964 in Soragna, Parma, Raffaele Caruso is renowned globally for its exceptional quality in luxury men's tailoring. With over 450 artisans harnessing traditional techniques alongside contemporary production methods, Caruso serves prominent fashion houses and operates through a distinguished network of high-end menswear retailers. In recent years, the company has consistently demonstrated strong financial performance, generating approximately €35 million in annual revenue.

The Role of ITTIKAR

Integral to this acquisition was ITTIKAR, Mondevo Group's AI-powered merchant bank tailored for family offices. Acting as the exclusive advisor, ITTIKAR utilized cutting-edge artificial intelligence developed by Mondevo Tech, staffed with over 40 AI engineers. This technology was pivotal in executing comprehensive due diligence across various dimensions, including financial statements, corporate governance, and commercial contracts. By automating document analysis, ITTIKAR greatly enhanced both the speed and depth of decision-making processes critical to the acquisition.

Hussam Otaibi, the Founder of Mondevo Group, highlighted the cultural and brand significance of Caruso, stating, "Caruso represents the heritage and craftsmanship that define what MondeVita strives for. The advanced AI capabilities we deployed throughout this transaction have set a new standard in the industry."

Comments from Leadership

Fabio Brambilla, Co-Founder and CEO of Mondevo Group, echoed Otaibi's sentiments, emphasizing Caruso's alignment with MondeVita's core values. He mentioned that the opportunity to leverage AI-integrated insights was instrumental in shaping both their approach and the structure of the deal. Brambilla will assume the role of Chairman for Caruso, while Marco Angeloni will continue as CEO and take on a minority stake in the company, ensuring continuity in leadership. The existing management team, including Creative Director Max Kibardin, will remain intact to help navigate the company into its next chapter.

Future Objectives for MondeVita

MondeVita’s ambitions extend far beyond this acquisition, as it aims to cultivate a portfolio of exceptional heritage brands across various sectors including luxury goods, premium beverages, hospitality, and wellness. These sectors are seen as traditionally fragmented yet rich in potential for growth, and MondeVita intends to use long-term ownership and operational excellence to generate sustainable value.

As MondeVita embarks on this exciting journey after the acquisition of Raffaele Caruso S.p.A., it not only enhances its competitive standing within the luxury market but also sets a benchmark for how technology, especially AI, can revolutionize traditional business practices.

For further information about MondeVita, Raffaele Caruso, or to stay updated on future developments, please visit the official website of Mondevo Group.