Translated by
Nazia BIBI KEENOO
Revealed
March 28, 2025
Luxurious cashmere label Malo has a brand new proprietor. The Florence-based model, based in 1972 by brothers Alfredo and Giacomo Canessa, has been acquired by Glickman Capital, a U.S. non-public fairness agency managing $2 billion in belongings. The agency was based by entrepreneur David Glickman, who is understood for his ventures in tech and telecommunications, together with Extremely Cellular and Mint Cellular.
Malo, males’s coat in wool and cashmere – Malo
The deal—Glickman Capital’s first main acquisition within the style sector—was reportedly finalized on December 22, although it has solely now been made public. The transaction covers 85% of Malo’s share capital, with the earlier possession retaining the remaining 15% for now. Glickman Capital already owns Bare Cashmere, a U.S. style model working solely via direct-to-consumer retail.
As a part of the acquisition, Glickman Capital has chosen business veteran Michelle Kessler-Sanders as the brand new Chief Govt Officer of Malo, beginning in June 2025.
Michelle Kessler-Sanders – DR
“We are honored to steward Malo into its next chapter. As one of Italy’s most iconic luxury houses, Malo has long stood for heritage, quality, and timeless elegance. To lead this exciting new era, we are thrilled to soon welcome Michelle Kessler-Sanders as CEO and Leonardo Minerva as COO. Together, Michelle and Leonardo form a highly experienced, world-class team. I have full confidence in their ability to honor Malo’s legacy while guiding it toward a bold, international future,” Glickman added.
Kessler-Sanders enters Malo with a formidable CV, which incorporates stints as President of Calvin Klein Assortment; Govt Vice President of Vera Wang; SVP of Donna Karan; Vice President and Style Director of Juicy Couture; and Director, Advertising and marketing and Communications at Prada. She additionally spent over 5 years because the Equipment Director of American Vogue, the place she was a well-known determine on style’s entrance row, famous for her extremely individualistic sense of stylish.
As a part of the acquisition, Naga Manufacturers partnered with Glickman Capital. Damien Dernoncourt, CEO of Naga Manufacturers, can even assist the transition as interim CEO of Malo till Kessler-Sanders formally assumes the position in two months’ time.
Manufacturing and the model’s headquarters will stay in Tuscany in the intervening time, though the corporate might later relocate to Milan. Within the meantime, Glickman has reportedly established two new subsidiaries: Malo US, based mostly in the USA, and Malo Asia-Pacific, concentrating on enlargement in that area.
In 2018, Italian agency Finplace 2, led by entrepreneurs Walter Maiocchi and Luigino Belloni, acquired Malo, ending the model’s momentary receivership interval. Chapter administrator Daniele Fico, below the supervision of the Florence court docket, had managed the receivership course of. Their provide of €9.92 million—simply €20,000 above the beginning worth—was the one bid submitted. Earlier than the acquisition, Quadro Capital Companions managed Malo however withdrew after the model declared chapter.
Malo, ladies’s cotton crewneck sweater Malo – Malo
Malo has undergone a number of possession adjustments through the years. In 1999, it turned a part of the Italian style group Ittierre, which held the model till its monetary collapse prompted a sale. Evanthe, an organization below Exa S.r.l., acquired Malo in October 2010, adopted by Quadro Capital Companions in August 2014.
Final yr, the model opened a 190-square-meter boutique on Through della Spiga in Milan after closing the fiscal yr with roughly €15 million in income, reflecting double-digit progress.
Glickman Capital, proprietor of UK soccer membership Leeds United, additionally holds a various portfolio that features tequila model Dame Más, pharmaceutical agency Cupboard, a number of tech, digital and leisure firms, in addition to hospitality ventures. In Italy, the group owns the Sant Ambroeus restaurant and pastry chain.
