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OVS to acquire Stefanel for 3.2 million euros

By Prachi Singh

21 Dec 2020

Business

OVS SpA has announced that the company is acquiring Stefanel brand and twenty-three stores located in some of the main Italian cities for a total consideration of 3.2 million euros. The company said in a statement that it aims to enrich the OVS portfolio with a brand recognized in Italy and in the world, in particular in women’s knitwear. OVS believes that the acquisition will strengthen the company’s offer in women’s segment allow the group to enter in a higher positioning.

The company added that new impetus will be given to the presence of the Stefanel brand in Italy and also abroad through the enhancement of existing stores and their future development. “The industrial and sourcing skills at our disposal will allow us to adequately reduce the industrial cost, without compromising the quality. It is also planned to expand the range of women’s knitwear products in our stores, introducing the Stefanel label within the premium offer,” the company said in a statement.

As part of the offer, the company further said, employees relating to the stores acquired, the ones relating to the Milan office and to the Ponte di Piave office are included. The operation will therefore support employment levels in a sector severely affected by the pandemic.

Picture:Facebook/Stefanel