Luisa Via Roma has entered a deal with Milan’s private equity fund Style Capital, a company that also has stake in fashion brand’s Zimmerman and MSGM. Style Capital is investing 152 million dollars in the Italian e-commerce company and current chairman and CEO Andrea Panconesi will retain 60 percent of control of the business. The news was reported by Business of Fashion.
Luisa Via Roma has been working on being a bigger competitor in the luxury e-commerce space that has been dominated by competitors like Mytheresa, Ssense, and Farfetch. In 2020, Luisa Via Roma generated 211 million dollars in revenue with 90 percent of sales from online.
Luisa Via Roma wants to use the investment to eventually become a publicly listed company. They are also hoping to further their expansion in Europe and internationally.