Vicini Said to Hire Rothschild for Guiseppe Zanotti SaleKiel Porter and Andrew Roberts
The owner of Giuseppe Zanotti, an Italian luxury shoemaker, has appointed an adviser to help it explore a possible sale of the maker of $3,250 heeled sandals and $875 sneakers, three people with knowledge of the matter said.
Vicini SpA, based in the town of San Mauro Pascoli, has appointed investment bank Rothschild to examine strategic options that may lead to a sale in 2014, according to the people, who asked not to be identified because the talks are private. Vicini, a holding company, controls licenses as well as the Zanotti brand.
Zanotti, which may have an enterprise value of as much as 300 million euros ($412 million), is attracting interest from private equity firms, the people said. Revenue was about 80 million euros in 2012, according to research company Sanford C. Bernstein, with earnings of 11 percent of sales. Vicini sells through more than 50 boutiques, according to its website.
Emmanuel Tomasini, a spokesman for Vicini, declined to comment, as did an official for Rothschild. Vicini also makes shoes for fashion brands such as Balmain and Christopher Kane.