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MILAN – Gruppo Florence, established in October 2020 to develop a platform providing high quality Made in Italy products to major luxury fashion brands, has added another company to its portfolio.
The fashion group has acquired knitwear manufacturer Metaphor, which, based in the Carpi district, was declared bankrupt by the Modena court last August.
Metaphor, which traditionally manufactures premium knitted products, employs 40 people and has 40 state-of-the-art knitting machines.
“We are particularly proud of this operation, which is different from the others that we usually carry out since we take control of a company which was on the verge of closure, jeopardizing important craftsmanship and technical know-how,” said Francesco Trapani, president of Gruppo Florence. “This acquisition confirms Gruppo Florence’s commitment to supporting the Made in Italy manufacturing tradition, in great demand among the world’s most prestigious luxury brands.
Following the acquisition, Massimiliano Tosi, former head of the planning and knitting department at Metaphor, will assume the role of general manager of the Italian manufacturing company.
“We feel extremely lucky to be part of Gruppo Florence which, in less than a year, has managed to become one of the benchmarks of the Italian luxury supply chain,” said Tosi. “I am confident that our team will live up to the confidence that our investors and customers place in the quality of Metaphor products.
This is the seventh acquisition for Gruppo Florence, which is controlled by private equity fund VAM Investments, Fondo Italiano d’Investimento and Italmobiliare. With Emmegi, the group operates the jersey specialist Manifatture Cesari; manufacturer of outdoor clothing Giuntini; Ciemmeci, a company specializing in the production of leather and fur parts; specialist in Antica Valserchio scarves and shawls; as well as the knitwear company Mely’s.
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