Marni is in expansion mode, and after months of rumors and speculation, the brand finally has a partner to propel its business to the next level. Renzo Rosso, the chief of Diesel, has taken a majority stake in the label, WWD is reporting.
Rosso’s holding company, Only the Brave Srl, has a stake in Viktor & Rolf and Maison Martin Margiela, so Rosso is no stranger to working with and growing quirky brands. He also owns manufacturing company Staff International, which produces collection for Just Cavalli, DSquared2, Vivienne Westwood and Marc Jacobs. WWD calls Rosso a “marketing wiz” and notes that he knows how to deal with the “demanding personalities of designers.” Rosso is also long-time friends with Gianni and Consuelo Castiglioni, so he’s probably coming into this venture with a good understanding of what they want.
So what does this mean for Marni?
Nothing but good things, it would seem. Consuelo will continue as head of design and Gianni will become co-CEO with Rosso. Gianni Castiglioni told WWD in October, “We would like to double our sales in five years through a further development of retail but without drastically overturning our company.” So we’re assuming that’s still the plan, and Rosso is ready to help Marni get there.
“It’s a wonderful, global company and an iconic, fantastic, creative and recognizable brand,” Rosso told WWD. “We will provide new energies and resources to add brilliance to the label.” The financial details of the deal weren’t disclosed.