Contemporary Fashion Brand High Gets New Owners
MILAN — A pool of marquee investors has acquired Interfashion SpA, a production and distribution company within the Stefanel group, through a new company called Strava Srl.
The purposefully created vehicle is helmed by Giuseppe Stefanel, former president of the namesake company; Giulio Corno, director and founder of Triboo Digitale, a digital and e-commerce solution provider, and businessman Alberto Vacchi.
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Interfashion was spun off from the Stefanel Group after the latter entered the special administration procedure in September 2019. The Stefanel brand was then acquired by OVS, as reported.
Interfashion was established in 1992 and used to be the licensee for labels including Closed, Marithé + François Girbaud, GGigli and I’m Isola Marras. It currently owns and operates contemporary womenswear fashion brand High, which has been growing a strong following and expanding its international footprint since launching in 2006.
“It was a friendly acquisition since two of the three entrepreneurs already knew [Interfashion and High] pretty well,” said Alessandro Cavalieri, general manager of Interfashion, in an interview.
He touted the continuity of the company’s operations with ambitions to further grow the High brand, strengthening its digital capabilities and wholesale footprint, although he didn’t rule out expanding Interfashion’s scope via additional M&A activities.
Founded by Giuseppe Stefanel in 2006, High is focused on chic everyday clothing with a strong focus on high-quality manufacturing and textile research. “It’s about utility, quality and design,” Cavalieri said.
The brand, distributed through around 500 wholesale doors and 20 flagships, comprises three lines: the High Everyday Couture main range, flanked by the workwear-nodding, denim-heavy Use collection and the High Tech line that includes garments crafted from performance fabrics.
In 2022, the company’s turnover stood at 26 million euros, driven by strong performances in France and Germany, where most of the international flagships are located. Its international footprint is evenly distributed, with distributors in the U.S., Canada, Japan and Australia.
English-speaking countries are particularly receptive to High’s offering, Cavalieri offered, adding that a further retail push is to be expected in first-tier European cities. This will be flanked by a strengthening of wholesale partners.
Leveraging the digital capabilities of one of its shareholders, Corno’s Triboo Digitale, the company sees the implementation of a multichannel strategy as the next big step.
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