Bankruptcy Crisis Lifted Italy Luxury Cashmere Brand Malo Announced Return

Italy luxury cashmere brand Malo announced its return. Following the recent AltaRoma Rome custom fashion week and the Pitti Immagine trade show, the company's reboot program also includes two new moves: the brand displayed a brand new spring and summer series in the boutique of Montenapoleone Boulevard in Milan fashion week, and joined the Italy National Fashion Association in 2020.

According to the "24 hours Sun" report, the brand reopened the exhibition hall in New York, and will open two new stores in Moscow and Naples by the end of October.

After a long period of turbulence (three changes in ownership in twenty years), Malo was jointly acquired by Italian company Finplace 2 and Finplace Luigino, Belloni, and Bastian Mario Stangoni, led by Walter Maiocchi of Venice last year. Maiocchi said to the 24 hour Sun: "we are striving to recover those customers who have lost their love for Malo brand but have been losing in recent years, especially overseas customers." He added: "our idea is to gradually increase growth."

Malo expects sales of 1500 to 18 million euros in 2019. The re launch plan for brand release also includes strengthening the design department and internalizing production. At present, internal production accounts for 90% of the total output.

Maiocchi introduced: "we strengthened the design department and implemented internal production. In the Campi Bisenzio near Florence and the Borgonovo Val Tidone factory in Piacenza Province, we have developed from the 108 employees at the beginning to the current 129. In addition, we have reached agreements with a number of schools in Florence. Unfortunately, they do not have a specialized knitting course, and what we need is knitwear, some of which are entirely dependent on manual production. The average age of employees is rising: therefore, we hope to work with local educational institutions to open a school in the expanded Borgonovo plant.

Before the end of this year, Malo will also open its official electricity supplier mall, which is directly managed by the government, and is preparing to launch a "sustainable" project. "A Malo garment should be kept in the wardrobe for decades. Therefore, starting from the stores in Milan and Rome, we are ready to launch a clothing recycling and recycling service in the past season to revitalized them and extend their service life. " Malocchi concluded.

Malo was founded in Florence in 1972 by Alfredo Canessa and Giacomo Canessa, mainly engaged in the design, production and sale of knitwear. Merino wool, cotton, Chinese silk, camel hair and fine cashmere are used for fabrics. Since 2017, Malo has suffered a series of operational difficulties. The factory was once incorporated into the liquidation plan by the Florence court.