BREGANZE, Italy — Only The Brave, the Italian fashion group overseen by Diesel founder Renzo Rosso, has announced that it has acquired a majority stake in Italian-Brazilian fashion brand Paula Cademartori.
The designer, who was new to the BoF500 this year, is known for her colourful collections of accessories including bags and shoes, which are worn by the likes of Beyoncé, Lady Gaga and Jessica Alba. Cademartori’s bags are priced roughly between $1000 and $2500.
"I find Paula creative, modern, and complete – she can discuss every facet of what we do with a very distinctive voice," Renzo Rosso, president of Only The Brave (OTB) tells BoF.
“Within our group, she will continue to freely create innovative, ‘brave’ products, also thanks to the structural support we will provide her, and together we will create a new success story based on a unique identity and borderless creativity,” he says in a statement.
The company’s investment is part of its long-term aims of supporting young emerging talent, OTB says in a statement, which will offer support to Paula Cademartori’s growing brand, which is already sold in more than 160 stockists around the world including Harvey Nichols, MatchesFashion.com and Saks Fifth Avenue.
"We will support her on every level, including product development and commercial growth," Rosso says, who first met Cademartori in June at a conference in Milan this year. "I was immediately attracted by her energy, her enthusiasm, her passion, her positivity – and her products. I asked to talk to her, invited her to our headquarters, shared experiences and stories, and decided to help and support her."
OTB, which has more than 7,500 employees worldwide, has a turnover of €1.6 billion ($1.7 billion).
“I am truly happy and proud to enter the big OTB family, with whom I whole-heartedly share values and philosophy. This is an incredible opportunity of growth and development for my brand. For me, Renzo is not only a great entrepreneur but also an inspiring figure,” says Paula Cademartori.
The investment will help Paula Cademartori to significantly expand its reach, particularly in the United States and Asia, as well as open its first flagship store, the designer tells BoF. In 2014, the brand projected it would reach €2.2 million ($2.4 million) in revenue.
“With this [investment], we will be able to reach maybe the first flagship store, and realise new important steps for the brand,” Cademartori says. “For me, it’s an opportunity to grow my business.”
“Until now, the brand was very small and a niche brand, so I am super happy to get more visibility and the opportunity to open more stores. There are lots of projects coming,” she adds.