The Italian brand Etro sold a majority stake to L Catterton. A share in the company belongs to businessman Bernard Arnault, the head of the luxury conglomerate LVMH (which includes Louis Vuitton, Dior, Givenchy and other brands). The value is €500 million.
Gimmo Etro founded the Etro brand in 1968 as a textile company. In the 80s, he decided to invest in clothing and accessories. Etro is a family-owned brand with Veronica Etro as creative director for women and Kean as creative director for men. Ippolito is in charge of strategic development and Jacopo is in charge of the home line. Francesco Freschi is the CEO.