As part of the transaction, certain members of the Corneliani family will remain as shareholder alongside Investcorp.
Founded in 1958 by Carlalberto Corneliani, Corneliani is a luxury clothing brand known for its men’s suits and chic casualwear.
Carlalberto – along with his brother Claudio Corneliani – built the business, which then expanded into the casual wear market and grew its international presence with stores established across Europe, the US, Asia and more recently into emerging markets.
The company currently employs approximately 1,100 people with sales in 68 countries through 10 directly operated stores, approximately 850 multi-brand stores, more than 75 franchise stores and 50 store-in-stores, including Harrods, Harvey Nichols, Saks Fifth Avenue and Bloomingdales.
In 2015, the company reported revenues in excess of €110 million.