The Missoni Group has completed an agreement with Italian equity firm FSI, in which the latter will become the controlling shareholder of the company as the Missoni family sells its equity stake.

FSI, which previously held a 41.2% stake in Missoni, has now become the majority shareholder at 73%. Bogner owner Katjes Quiet Luxury, the subsidiary of German brand group Katjes International, has taken the remaining 27% stake.

The Missoni family retained full ownership of their namesake brand until 2018, when it sold 41.2% to FSI. With this new deal, the family no longer holds any shares in the company, but will continue its work with Fondazione Ottavio e Rosita Missoni. 

The Missoni Group said in a statement on Friday that the new partnership “marks the beginning of a new phase of growth, supported by two financially strong shareholders united by a shared passion and a long-term vision. From both an operational and strategic perspective, the key message is one of continuity.”

Speculation about the sale of Missoni began circulating in January, and in March, the brand announced that FSI would become the controlling shareholder. This process was completed on May 21.

The brand’s CEO, Livio Proli, and his current management team will retain their positions. Missoni has surpassed €130 million in revenues and continues to double in profits, according to the press release.

Proli joined Missoni in 2020, following a veteran career at Giorgio Armani, including roles as general manager and managing director of the brand, as well as president and CEO of GA Retail and GA Operations. He was also president of the Giorgio Armani-owned basketball team Olimpia Basket Milano.

Missoni’s board of directors will see Barnaba Ravanne, co-founder and co-managing partner of FSI, take the role of chair. “The company’s employees would like to sincerely thank the Missoni family, with the conviction that the Missoni brand will remain faithful to its distinctive heritage and to its unique ability to reassure and inspire at the same time, in full coherence with its core values and aesthetic identity,” FSI said in a statement.