Philipp Plein International acquires stake in Billionaire Couture

Philipp Plein International has acquired a majority a stake in Billionaire Couture, the luxury men's wear line created by entrepreneur Flavio Briatore in 2005. Philipp Plein will become the brand's creative director. The first collection designed by Plein will be presented on June 20 in Milan. Plein will still continue to design his eponymous label.

“We believe that Billionaire Couture has a huge potential and will continue growing,” Plein said to WWD. “We believe that it can reach even further. We are selling a product that is not for everyone, it is a luxury product that represents artisans from Italy and we want to bring this brand to the next level.”

The amount Philipp Plein International paid to acquire Billionaire Couture was not disclosed.

The brand is entirely made in Italy, and in addition to the men's line, there is a boys collection. Based in Milan, Billionaire Couture has a total of 30 stores and 48 points of sale worldwide. Part of their business plan includes opening 30 additional stores in the next five years. The line is named after the Billionaire nightclub in Porto Cervo, Italy, a playground for the wealthy.

The line is co-owned by Briatore and Antonio Percassi.

Plein is reportedly planning to have a famous soccer player front an ad campaign for the brand, though he has declined to say who.

In a sluggish luxury goods market, the designer might have his work cut out for him with trying to make Billionaire Couture succeed. On the bright side, men's wear is still a growing market, so that could make Plein's job a bit easier.