Carlo Pignatelli sells majority stake to holding company GD

blog image

Carlo Pignatelli sells majority stake: The sale of Carlo Pignatelli’s majority interest to the GD holding company was a big milestone for the Italian bridal and occasionwear line. Carlo Pignatelli, who started the company in the 1960s and is now 80 years old, will stand down from his role as CEO but will keep a small stake in it. Even though Alessandro Rossi is now the CEO, Pignatelli will still be involved with the company creatively.

Local entrepreneurs Francesco Gianfala and Riccardo Di Battista came up with the idea to revive the Turin-based label. They set up the GD holding company to acquire Carlo Pignatelli, a label that had problems after the pandemic. The label’s fortunes took a nosedive during the COVID-19 pandemic, when sales dropped to €12 million from €50 million and 70 people lost their jobs.

GD plans to strategically revitalize Carlo Pignatelli, with an emphasis on the bridal and occasionwear areas that have great potential for growth. Asia, the MENA region, and South American regions will constitute the core of the company’s worldwide expansion strategy.

Furthermore, GD intends to open a haute couture school in Turin, which will allow them to teach the next generation of craftspeople the level of quality that has become associated with the Pignatelli name.

Three monobrand stores and one hundred fifty multibrand retailers currently carry Carlo Pignatelli items. On May 19, at the Savoy royal house in Venaria Reale, close to Turin, the label will announce its plans and ambitions for the future with a runway presentation. Under its new management, the company is expected to exhibit its evolution and objectives during this event.

Ethan Sullivan

Ethan's penchant for the pulse of the fashion world extends to covering lifestyle topics, offering readers a seamless blend of the latest style updates and lifestyle trends.

Read more