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Wise SGR sells Boglioli

Wise SGR has sold men's designer luxury brand Boglioli. The private equity fund has said they have accepted a binding offer from PHI Industrial Acquisitions for controlling stake of the fashion house. Andrea Perrone has been confirmed as CEO of the brand.

"We have put great energies during these months to ensure business continuity," said Perrone. In his statement he also thanked Wise, the new investors, and the employees of Boglioli for their continued service to the brand.

With new investors and financial capital at their disposal, Boglioli is looking to present a new business plan to further growth. Their new focus will be on growing in international markets. At the forefront of their business plan will be returning to Pitti Uomo for the spring/summer 2018 season.

Perrone should prove a strong choice to spearhead the new growth of Boglioli. He is the grandson of Gaetano Savini, co-founder of Brioni, and spent most of his career working for the luxury menswear label. From 2006 to 2010, he was Brioni's general manager and left just before the brand was taken over by Kering.

In October 2016, he became General Manager of Boglioli.

Photo: via Boglioli Facebook page