Brunello Cucinelli sells stake to fund foundation
Italian designer Brunello Cucinelli has sold 6% of his eponymous fashion house for nearly €100 million ($122 million), putting the money into his family foundation.
The shares, sold via an accelerated book build mainly to US institutional investors, mean the Cucinelli family—Brunello, his wife Federica and two daughters Camilla and Carolina—now own 51% of the business.
