Il Bisonte has new owner

Worldwide
Published:  13 June, 2019

The Florentine leather bags and accessories brand has been sold to Look Holdings, the Japanese fashion distribution specialist.

Palamon Capital Partners has signed an agreement to sell Il Bisonte to fashion distribution specialist Look Holdings in a transaction valued at €100 million; three times the entry price paid by Palamon, producing a 26% Gross IRR for Palamon European Equity III. Palamon acquired Il Bisonte in mid-2015from its founder Wanny di Filippo, who established the business in 1970 from an artisanal workshop in Florence, Italy. Il Bisonte was one of a few remaining independent luxury Italian brands focused on leather handbags and accessories, with an authentic locally sourced product range with proven international appeal. 

Palamon says it had identified the significant global expansion potential for the Company and, agreeing a transition programme with the founder, invested substantially to professionalise the business and build out the sales and distribution infrastructure. Il Bisonte expanded internationally, with global points of sale increasing from less than 200 to over 400 and revenue more than doubling from €20 million at entry to over €40 million in 2019, with sales growth accelerating to 30% for the last two years.

Look Holdings owns brands such as Repetto, Scapa and A.P.C.