Carlyle Group is in advanced talks to sell Italian premium fashion brand Twinset to domestic investors Borletti Group and Quadrivio, in a deal that would value the business at just under €200m ($224m), according to sources cited by Reuters.

The transaction, expected to be finalised shortly, would represent a full exit for Carlyle, which has held a stake in the Modena-based brand since 2012. Initially acquiring 72%, the firm increased its ownership to 90% in 2015 and took full control in 2017 by acquiring the remaining shares from co-founder Simona Barbieri.

Founded in 1987 by Barbieri and Tiziano Sgarbi, Twinset has grown into a leading name in Italian fashion, known for its romantic aesthetic and knitwear heritage rooted in the Emilia-Romagna region. Under Carlyle’s ownership, the company expanded its international retail presence and diversified its product offering.

Twinset generated more than €200m in revenue and posted approximately €34m in EBITDA in 2023, according to Italian financial daily Il Sole 24 Ore.

Carlyle, advised by Rothschild, began exploring a sale of the business last year. If completed, the deal will add to a growing list of recent private equity exits in European fashion and retail.

Source: Reuters

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