Philippe Model, representing a successful mix between French allure and Italian creativity, realizes high-end fashionable sneakers that are created in the heart of the Riviera del Brenta Italian footwear district and distributed worldwide by top luxury wholesalers.

Founded in 2008 by the Italian designer Paolo Gambato in order to develop a fashionable sneakers project by re-launching an iconic brand of the luxury world, the company realized a strong growth over the past years, reaching sales of over €M 30 in 2015. Currently about 50% of revenues is realized outside Italy: 40% in Europe (mainly Germany, France and the Netherlands) with the rest in markets such as Japan and South Korea.

The company’s founders were looking for a financial partner to sustain the future development of Philippe Model. 21 represented the right partner to carry the company forward and to build a strong brand identity. The transaction will see 21 acquire a 70% stake, with the founders maintaining the remaining 30%.

21 Invest, alongside the newly appointed CEO, who boasts extensive experience in the fashion industry, will work towards creating a brand out of an outstanding product. 21 Invest will also strive to accelerate the company’s growth in line with the following two drivers:

• Organic growth: exploit market potential by leveraging marketing tools (flagship stores in fashion capitals, endorsements…) and via new distribution channels (department stores and online), with brand extension as a potential upside;
• International expansion: expand in geographies such as the Far East, USA and UK, which are currently underdeveloped or unexplored.

Alessandro Benetton, Founding Managing Partner of 21 Invest, commented: “I’m very proud to be able to contribute to the development of a business distinguished by a strong attention to the product, materials and elegance with the objective to become a leader in its market. Philippe Model represents a typical example of Made in Italy luxury that by taking advantage of local competencies and workers can conquer international markets.”

Founders Paolo Gambato and Roberto Doro added: “We are happy to start this new chapter in Philippe Model’s history. We have always believed in the brand and quality of our products that are completely Made in Italy. The new project mirrors our essence and represents everything we have made and believe in. This union will guide us in reaching new objectives by placing us before new challenges that we are ready to face with enthusiasm.”