FSI Takes 73% Controlling Stake in Missoni as Founding Family Exits

The Missoni family stepped back from ownership of their 73-year-old Italian fashion house Monday, ceding control to Milan-based private equity firm FSI, which will hold a 73% stake, while German investor Katjes International acquires 27% through its holding subsidiary Katjes Quiet Luxury.

The transaction, announced March 9, preserves domestic Italian ownership of the brand and is expected to close in the second quarter of 2026, pending regulatory and antitrust approvals. FSI co-founder Barnaba Ravanne will continue as chairman, and CEO Livio Proli, formerly of Giorgio Armani, will remain in place along with the existing management team.

Angela Missoni, who previously served as president of the company, and her brother Luca Missoni, who oversaw special events and exhibitions, will exit ownership. The family will retain a custodial role through the Fondazione Ottavio e Rosita Missoni, the foundation dedicated to preserving the legacy of the brand's founders.

Proli signaled that the brand's identity would not be sacrificed in the pursuit of growth. "The zigzags will remain, that's our monogram and that's who we are," he said. "But it can't be the only thing. We must also evolve."

The ownership change comes as Missoni posted stronger commercial results. Its Spring/Summer and Autumn/Winter 2026 collections recorded a 30% increase in sales, and revenues now total approximately €130 million, equivalent to around $143 million. EBITDA is expected to reach €20 million, or roughly $22 million, this year. The company is targeting single-digit annual revenue growth going forward, a deliberately measured pace that reflects a focus on brand integrity over aggressive scaling.

Missoni's creative director Alberto Caliri showed the Fall 2026 collection in Milan last week, continuing a period of creative momentum that has underpinned the recent sales gains.

The brand has also been quietly reinforcing its operational foundations. In recent years it has brought more production in-house, including the fabrics used for its signature zigzag knits, a strategy Proli said would continue as the company works to tighten quality control and reduce supply chain exposure.

Katjes Quiet Luxury enters the deal with tag-along rights and a call option on FSI's shares that could ultimately allow it to become the majority shareholder. FSI retains standard drag-along rights as the controlling party. To help fund the acquisition, Katjes International raised its corporate bond by €15 million to a total of €200 million, listed via the Frankfurt Stock Exchange.

Katjes is no stranger to heritage brand acquisitions. The firm, whose managing shareholders Bastian Fassin and Tobias Bachmüller built their reputation in confectionery, has diversified aggressively into luxury and consumer goods. Katjes Quiet Luxury took a controlling stake in premium sports brand Bogner last year, and the broader Katjes group holds investments in Italian food brands Paluani and Sperlari, fragrance firm Antica Erboristeria, and recently acquired Graze snacks from Unilever.

The Missoni transaction fits a wider pattern reshaping European fashion. Global luxury competition increasingly demands substantial investment in retail networks, digital infrastructure, and marketing, costs that smaller family-run houses struggle to shoulder alone. For FSI, the deal deepens a stated strategy of backing high-quality Italian consumer and luxury assets while keeping ownership onshore rather than surrendering the brand to international buyers.

Founded in 1953 in Varese, northwest of Milan, Missoni built its global reputation on the bold, colorful zigzag knitwear that remains its commercial anchor. The challenge now is whether new capital and professional management can widen its reach without dimming what made it recognizable in the first place.