Italy’s Ittierre Group, specialized apparel manufacturer of licensed upmarket brands, might be saved thanks to IKF, Italian investor fund represented by its CEO Mario Galetti. A year ago IKF had already tried to buy the former Ittierre, though it had been previously bought by other entrepreneurs (Antonio Rosati and Antonio Bianchi) but no real relaunch was actually started.

In the meantime three offers to acquire the company had been advanced. One was made by IKF (the same company that started the rescue of Lanificio Botto), through advisory by The European House-Ambrosetti which, for this acquisition, has hired Massimo Suppancig, former managing director when the company faced extraordinary administration in 2009. Other potential buyers are Europe Investimenti and oil industry entrepreneur Ammaturo, though no actual initiative had been taken by them yet.

IFK have met local authorities and presented their rescue project that will start by hiring back 40 employees, using a small part of the huge company facilities and will focus on two licensing agreements. “Aim of IKF’s relaunch is to gradually bring back this area’s manufacturing ability to its past productive levels. In fact this area is recognized for its workers’ top quality manufacturing ability and top level know-how at competitive prices, about 25-30% less than in other Italian manufacturing areas,” commented Flavio Sciuccati, senior partner, responsible for the fashion and luxury segment, The European House-Ambrosetti.

Very easily IKF could soon be chosen for the projects it developed. By end March 2015, the redundancy period is expected to finish for the about 250 employees of OTI (Officine Tessili Italiane, the former Ittierre). For this, local authorities might make their decision by mid-March.