Italy Luxury Cashmere Sweater Malo Founder Again

Founded in the 70s of last century, Italy's luxury Huashan cashmere sweater brand Malo has suffered from financial distress in the past more than 10 years.

After a series of changes, Giacomo Canessa, the brand's founder, will go back to the mountains and kiss the company to save the troubled old company.

Last year, Malo was the largest shareholder in Italy's luxury retail group

Resale to a private equity fund.

In order to promote brand development, Giacomo Canessa will launch an internal team responsible for brand design.

The first team of the new team has started selling to wholesale customers in the showroom located in Milan.

Last summer, Malo opened 3 flagship stores (1 of which are located in St. Tropez, France, and the remaining 2 are in Moscow).

In addition, Malo has stores in Italy, France, Spain, Russia, Japan, Korea and the United States.

Malo originated in 1970s, when cashmere sweaters were only a few celebrities in Italy, and the cashmere sweaters they wore were mostly produced in Scotland.

This makes Giacomo Canessa and Alfredo Canessa brothers determined to create the local cashmere sweater brand.

The first studio set up by the two brothers at Liguria in Italy was a success. The two of them succeeded in expanding their business and migrating the studio to Italy's luxury capital, Florence.

In 1972, the Malo brand was formally established in Florence.

In 1973, the company moved to Campi Bisenzio, Florence, where cashmere production was started.

Since then, Malo has become famous throughout the country in 70s and 80s.

In 1980,

Set up showroom in Milan.

In 1984, Malo went abroad, and Malo American company was established in New York, responsible for distributing brand knitwear in the United States.

In 1988, Malo bought it.

Two knitting factories will further expand the size of the company.

Since 90s, Malo has focused on expanding exports, setting up sales outlets in New York, Dusseldorf, Paris and Tokyo, and increasing the number of flagship stores to enhance the brand's international reputation.

In 1994, Malo acquired Italy's main rival, MGM Malima.

In 1999, Malo was incorporated into Itierre, IT, Italy branch.

In 2006, Malo completed its first show in New York fashion week. According to IT Holdings Group's earnings report, Malo sold 54 million 100 thousand euros in 2007 and a net loss of 060 euros.

In 2010, IT holding group began selling its assets, including Itierre and Malo, after filing bankruptcy protection for a year.

In October 2010, Italy's luxury retail group, Evanthe, took over Malo, at a price between 8 million and 10 million euros.