MondeVita Seals Strategic Acquisition of Renowned Fashion House Caruso

In a significant move, MondeVita, the luxury and lifestyle division of the Mondevo Group, has announced the successful completion of its acquisition of Raffaele Caruso S.p.A. This transaction, carried out through MondeVita Italy S.r.l., marks a key milestone in MondeVita's strategy to enhance its luxury platform.

A Historic Step in Luxury Fashion

Founded in 1964 in Soragna, Parma, Caruso has established itself as a prominent international luxury menswear manufacturer. The company employs over 450 skilled artisans who blend traditional craftsmanship with modern production techniques, supplying leading fashion houses globally and catering to a refined network of men's clothing retailers. With annual revenues of approximately 35 million euros, Caruso exemplifies the kind of authentic heritage that MondeVita seeks to cultivate.

The acquisition was advised by ITTIKAR, the AI-native investment bank of the Mondevo Group, which played a pivotal role throughout the due diligence and execution process. ITTIKAR, developed by Mondevo Tech, harnessed advanced artificial intelligence to streamline complex financial assessments encompassing corporate governance, taxation, real estate, and commercial contracts. The efficiency achieved through ITTIKAR's AI deployments significantly expedited decision-making processes, showcasing a new model for family office transactions.

Leadership Commentary

Hussam Otaibi, founder of the Mondevo Group, shared his insights on this acquisition, stating, “Caruso embodies everything that MondeVita stands for: authentic heritage, world-class craftsmanship, and a strong national identity with global resonance. This transaction's distinctive feature—enabled by ITTIKAR—allowed us to perform in-depth, swift analyses that were previously unimaginable using conventional methods. It marks the future of transaction strategies for family offices.”

Fabio Brambilla, co-founder and CEO of Mondevo Group, added, “Caruso represents the type of enterprise for which MondeVita was created—a convergence of tradition, artisanal skill, and brand identity focused on delivering a top-tier luxury product. The opportunity to leverage ITTIKAR’s AI capabilities throughout this process has shaped our understanding and structuring of this transaction. We are eager to collaborate with Marco Angeloni and his team in unlocking Caruso's full potential while further expanding MondeVita's luxury and lifestyle product portfolio.”

Governance and Future Strategy

In a strategic leadership alignment, Fabio Brambilla will take on the role of Chairman for both Caruso and MondeVita, with Marco Angeloni confirmed as CEO, also becoming a minority shareholder, reinforcing long-term commitment. The existing leadership team, including Creative Director Max Kibardin, will remain intact.

MondeVita’s vision extends beyond this acquisition; it is poised to build an exceptional portfolio of heritage brands across luxury goods, premium beverages, hospitality, and wellness sectors—areas traditionally rich in opportunities yet highly fragmented, where long-term ownership and operational excellence can yield sustainable value.

About MondeVita

MondeVita is the luxury lifestyle division of the Mondevo Group, focused on the acquisition, development, and growth of heritage brands within luxury products, high-end beverages, hospitality, and well-being sectors. The acquisition of Caruso stands as MondeVita's first major investment in its journey toward establishing a comprehensive luxury brand portfolio.

About ITTIKAR

ITTIKAR, based in Abu Dhabi Global Market, is the world’s first AI-native investment bank designed exclusively for family offices. Developed by Mondevo Tech, ITTIKAR deploys an AI agent dedicated to each family office, providing optimized services for business opportunity creation, due diligence, transaction advisory, and portfolio monitoring.

About Raffaele Caruso S.p.A.

Founded in 1964, Raffaele Caruso S.p.A. is an Italian manufacturer of high-end sartorial clothing, headquartered in Soragna, Parma. The company serves leading international fashion houses and promotes the Caruso brand, characterized by its philosophy of Playful Elegance. With over 450 employees, Caruso complements artisanal excellence with industrial-scale production and a strong brand identity.

About Mondevo Group

The Mondevo Group is a multi-division holding company based in Abu Dhabi, operating at the intersection of technology, investment, and lifestyle. Its divisions encompass wealth management, venture capital, luxury and lifestyle sectors, and foundational technology platforms. Mondevo's mission is to leverage AI-native capabilities and a robust global network of ultra-high-net-worth families to create sustainable enterprises in sectors with high entry barriers and significant long-term growth potential.