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

MondeVita, the luxury and lifestyle division of the Mondevo Group, announced today the successful completion of its acquisition of Raffaele Caruso S.p.A. from the Lanvin Group. This strategic move signifies a significant expansion of MondeVita's portfolio in the world of high-end fashion, particularly in men's luxury apparel.

Founded in 1964 in Soragna (Parma), Raffaele Caruso is recognized as a leading manufacturer of luxurious men's clothing. The company boasts over 450 skilled craftsmen who expertly blend traditional craftsmanship with modern production techniques. This unique combination allows Caruso to cater to prominent fashion houses around the globe while also managing its own brand, serving an exclusive clientele of sophisticated men’s wear boutiques.

The acquisition was executed via MondeVita Italy S.r.l. and is poised to establish Caruso as a cornerstone of MondeVita’s luxury platform. The company reported annual revenues of approximately €35 million, showcasing its robust market presence and potential for further growth under MondeVita’s management.

Role of ITTIKAR in the Acquisition

Throughout the acquisition process, ITTIKAR, a pioneering AI-based merchant bank formed within the Mondevo Group, acted as the exclusive advisor. ITTIKAR is designed specifically for Family Offices and employs artificial intelligence to conduct thorough due diligence and execution. Developed by MondevoTech, the internal tech arm of the group, ITTIKAR leverages a dedicated team of over 40 AI engineers based in Singapore.

ITTIKAR's proprietary AI agents performed an extensive analysis of hundreds of documents across various aspects, including financial reports, governance, real estate, taxation, human resources, and trade agreements. This innovative approach markedly enhanced the speed and depth of decision-making, setting a new standard for efficiency in complex, cross-border acquisitions.

Executive Insights

Hussam Otaibi, the founder of Mondevo Group, shared his thoughts on the acquisition: “Caruso embodies everything that MondeVita stands for—authentic heritage, world-class craftsmanship, and a strong national identity with a global appeal. What makes this acquisition particularly special is the pivotal role of ITTIKAR. Our AI capabilities enabled a level of analytical depth and speed that conventional methods simply couldn’t achieve. This is the future of business execution for Family Offices.”

Fabio Brambilla, co-founder and CEO of Mondevo Group, added, “Caruso is precisely the type of brand that MondeVita was designed for—one that beautifully merges tradition, artisanal skill, and brand identity into a premier luxury product. Utilizing ITTIKAR’s AI insights throughout this process has shaped both our conviction and the structuring of this transaction. We are eager to collaborate with Marco Angeloni and his team to unlock the full potential of Caruso while further expanding MondeVita’s luxury and lifestyle portfolio.”

Brambilla will take on the role of Chairman at Caruso and MondeVita, while Marco Angeloni has been confirmed as CEO and minority shareholder to ensure will ensure a long-term vision for the brand. The existing management team, along with Creative Director Max Kibardin, will retain their positions, guaranteeing continuity and stability within the company.

Future Expansion Plans

Beyond this acquisition, MondeVita aims to build a diverse portfolio of exceptional heritage brands across industries such as luxury goods, premium beverages, hospitality, and wellness. These sectors are traditionally fragmented but are rich with opportunities where long-term ownership, shared expertise, and operational excellence can create sustainable value.

Conclusion

As MondeVita embarks on this journey with Raffaele Caruso S.p.A., it redefines its commitment to enhancing the luxury market through innovation and craftsmanship. This acquisition not only marks a new chapter for MondeVita but also stands as a testament to the transformative power of technology in traditional sectors.