Bvlgari acquires Bruno Magli

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Italian jeweller Bvlgari, also known to travel retailers for its perfume distribution, is buying top Italian shoe maker Bruno Magli for an undisclosed sum. The acquisition was made through the Opera closed equity fund majority controlled and 50% owned by Bvlgari. Opera is taking a 75% stake from the family that founded the company in 1936.  The Opera fund specialises in investments in Italian lifestyle companies.

The move pushes Bvlgari further into the fashion business; it already sells ties and scarves in travel-retail. Bruno Magli will expand its accessories lines, especially handbags, which currently account for 15% of sales. The brand already has free-standing stores at Milan Malpensa and Rome Fiumicino airports and 70 others worldwide, but Bvlgari would not comment on the prospects for further Magli shoe stores in the duty-free channel.

There is also speculation that Bvlgari, via Opera, is in acquisition talks with Rome-based fashion house Valentino, although Bvlgari denies this. Valentino also has a presence at Milan Malpensa airport.