Harmont & Blaine: JOIN THE HOURGLASS IN CAPITAL FUND. PLANNED INVESTMENT FOR 60 MILLION

Now it’s official, black and white: it was completed the entry of Hourglass asset management company in the capital of Harmont & Blaine, the company Neapolitan Calabrian roots that the dachshund as a symbol and year after year, has seen its turnover up to develop be present today in the middle of the world. The entrance fee is 35% of Hourglass, Julius Glasco’s new CEO. The founder of the Domenico Menniti remains President and the new governance is completed by Richard Brown, a partner at Hourglass, Vice President and Managing Director Paolo Montefusco.
The transaction will allow the company to accelerate and consolidate the growth in international markets in the next three years plans to invest on developing retail for € 60 million. The objective is to support the company’s international growth plan and to consolidate its leadership in the field of Upper Casual sportswear.
The closing took place in Milan at the office of Notary Marchetti. In addition to the strengthening of the capital, the agreement provides an overall strengthening of the management team with the appointment to AD Giulio Guasco (former Procter & Gamble – Fay – Miroglio – Ralph Lauren). Until the establishment of Guasco, expected by the end of November, AD functions will be carried out by Paolo Montefusco, historical fashion designer Brand Basset, who subsequent to the start of Guasco hold the post of Managing Director.
“It closes a period of exciting growth that has led our company to the attention of consumers and the world of finance. He opens today another aiming at internationalization and even greater growth – said the president Domenico Menniti – we look forward compact and determined to meet and exceed the goals we set ourselves, we looked around and we chose what we thought was best suited to a company like ours. Hourglass and the experience he brings with him will dovetail with the undoubted quality creative the old Harmont & Blaine doing something new this company can take advantage of the opportunities that globalization has brought with it. ”
“Hourglass is determined to support with financial and managerial resources to further opportunities for development and growth projects that Harmont & Blaine has identified. Today begins an exciting adventure for the company that will actively participate – at the side of the employers and the management – the path of internationalization and development of the company, “said the new vice-president Richard Brown.
The entry of Hourglass SGR in the capital of Harmont & Blaine has occurred through a reserved capital increase aimed to make the necessary resources to international development plan of the company that plans to significantly increase sales in the next three years, reaching a critical mass to compete in international markets, promoting a progressive rebalancing of revenues in Italy and abroad.
The growth path drawn by the management of Harmont & Blaine and Hourglass SGR enable the Group to significant growth in the Asian market, the market in Continental Europe and the Americas (North and Central and South America). Overall, in the next three years plans to invest 60 million Euros for the development of retail.
particular, thanks to the opening of new mono-brand boutiques, the Group expects the next few years a steady growth in direct sales channel with respect to the wholesale operation that will ensure a steady increase in brand awareness.
Harmont & Blaine has been assisted by the financial UBS Corporate Advisory Group by the advisor and firm Bonelli Heir Pappalardo, while Hourglass asset management company by Deloitte for the due diligence, the Boston Consulting Group for the Study and Business Plan for the Pavesi Gitti Verzoni ‘legal assistance.

HARMONT & BLAINE CARD
Harmont & Blaine S.p.A. is the Italian company that manufactures, markets and distributes high-end casual apparel upper distribution of which is allocated to the premium segment of the market characterized by the well-known brand of the dachshund. With a turnover in 2013 of € 71 million, more than 500 direct employees and more than 1,000 armature, Harmont & Blaine SpA is located in the province of Naples, where he concentrated the production of all clothing and accessories. The label of the Dachshund has now become a highly recognized brand in Italy and abroad for a Class A product characterized by ‘high quality and constant research of colors, shapes and new materials that meet the demands of the consumer cosmopolitan always more demanding . Today the network of Harmont & Blaine has 69 mono-brand boutiques in Italy and 70 in the world (from the US to Central America, the Middle East to Russia and Hong Kong) and a significant presence in more than 1,500 clothing stores around the world . Harmont & Blaine opened in October 2013 in Prague’s largest flagship store in the world of the Group, and in April 2014 opened the first store in Moscow. In 2013, for the 2nd consecutive year, the Group was awarded the “D & B Rating 1”, index of reliability that certifies the low risk profile of credit for commercial business.