Alessandro Varisco Becomes Carlyle'S CEO

Italy light luxury

The fashion brand Twin-Set-Simona Barbieri SpA has been held by the controlling shareholder and the The Carlyle Group LP (NASDAQ:CG) of the US private equity giant.

2012 CarlyleGroupLP

At stake, TwinSet-SimonaBarbieriSpA's valuation is about 300 million euros, 7.5 times the core earnings of that year.

In 2012, the CarlyleGroupLP Carlyle Group, which bought the stake of Twin-Set-Simona Barbieri SpA72%, has increased to 90%, and AlessandroVarisco, who has been CEO of Moschino Moss Chino for the past 6 years, has assumed the same post, hoping to lead Twin-Set brand to expand the international retail trade and impact IPO to replicate the success of MonclerSpA (MONC.MI).

Twin-Set-SimonaBarbieriSpA and CarlyleGroupLP Carlyle said in a joint statement that the pition of management is one of the restructuring measures aimed at extending the international and retail development plan started in 2012.

The CarlyleGroupLP Carlyle Group had previously disclosed the listing plan, and the group's chief executive and director of European operations, MarcoDeBenedetti2014, received a visit to the Reuters at the beginning of the year, saying that the listing of Twin-Set-SimonaBarbieriSpA was "unquestionably possible", "but not immediately", "the brand is focusing on international expansion and business development."

CarlyleGroupLP Carlyle's CarlyleEuropePartnersIII, L.P. (CEPIII) acquired MonclerGroup48%'s stake in that time in 2008 and sold 63% of its holdings to France's Private Equity Investment Firm EurazeoSA (RF.PA) in 2011, retaining MonclerGroup18%'s shareholding.

In December 16, 2013,

SpA listed on the Milan stock exchange, issuing 10.20 euros, and CEPIII placing MonclerSpA11% shares, retaining 7.13%.

In June 2014, the CarlyleGroupLP Carlyle Group disclosed that it had sold all holdings at a price of 12.04 euros per share, and finally reached 215 million euros.

Twin-Set-SimonaBarbieriSpA was founded in 1990 by TizianoSgarbi and its fashion designer wife SimonaBarbieri. After the paction, TizianoSgarbi, who has been chief executive of the company, will retire. SimonaBarbieri continues to be the creative director and holds the remaining 10% stake in the company.

Twin-Set-SimonaBarbieriSpA started with high-quality fashion knitted garments made in Italy, and gradually extended the products to shoes, handbags and other accessories, as well as underwear, swimwear, jeans and children's wear product lines.

In 2014, the company's revenue was 210 million euros, up 50% from 140 million euros in 2013.

Italy's local market accounts for 69% of the company's business and retail channel accounts for 30%.

By the end of 2014, the company's direct sales network had 57 stores, of which 38 were in Italy and 19 were in Germany, France, Spain, Belgium and Russia.