Spanish Handmade Bast Shoes Brand Maneb, Won A Minority Stake In Italy Investment Company

Milano Investment Partners, an investment company in Milan, Italy (hereinafter referred to as "MIP") has recently announced that it has acquired a minority stake in Spanish handmade bast shoes brand by increasing capital.

Specific financial data were not disclosed.

Maneb was launched in 2013 by Antonello Benati and friend Vera Drossopulo Bogdano, the former working at the Merrill Lynch (Merrill Lynch Bank of America), who worked for Lehman brothers, one of the four largest investment banks in the United States, and later served as the vice president of the French Xingye Bank.

The name "Maneb" comes from St. Tropez, a local tourist attraction. The inspiration of the design is that the founders and friends want to wear a pair of fashionable and comfortable sandals while traveling.

Maneb's shoes are designed in Milan, and its design team is dedicated to the research and use of natural fiber materials, such as cotton and linen.

The whole pair of shoes is handed over by Spain for a hundred years.

Its sole is made of natural jute, ensuring excellent breathability. The fabric and leather of the upper are carefully selected by well-known Italy and European suppliers.

Maneb has 7 entity stores, which are located in Milan, Santa Margherita Ligure, Pietrasanta, Porto Cervo, Porto Rotondo and Panarea.

Its products are also distributed through Milan footwear retailer Massimo Bonini, which has more than 300 stores and online retail outlets worldwide, including partners LeBonMarch, KaDeWe, LuisaViaRoma, Net-a-porter, Matchesfashion, Beymen, Rinascente, Tsum and Ssense.

Italy, the United States, the United Kingdom and Germany are the best performing markets for the brand.

In addition, as a digital local brand, Maneb's direct business has contributed nearly 1/3 of its total sales and 1 million annual visits.

In 2018, Maneb completed its 3 million euro financing and expects sales to grow by 50% over the same period this year.

After investing in MIP, Drossopulo Bogdano and Benati also revealed that this summer, the brand will launch beaches.

Benati also said: "in April, we will open the first store outside Italy in Ibiza.

The aim of the company is to expand the business of major Riviera Resort & Spa such as Mykonos, St. Tropez and Capri, and enter the main cities at the same time, including London, Rome, Madrid and Barcelona.

Since its inception in December 2017, MIP has invested in a range of promising start-ups, including handmade shoe manufacturer Velasca, German high-end luggage brand Horizon Studios, Spanish flower business Colvin and Italy noodle chain Miscusi.

"The investment in Maneb and the other six investments in the past eight months represent the further development of MIP in the lifestyle field," said Angelo Moratti, the main investor of MIP.

We have been looking for Italy and European brands that can provide high-end products, global expansion plans and integrated business models. Maneb meets these requirements. "