(28 January 2016) Sace and Simest (Cassa Depositi e Prestiti) have announced a significant new plan to support Maglital’s growth strategy, an Umbrian company part of the Group Finac owned by the Caprai family known to markets worldwide as Cruciani and Cruciani C brands (clothing accessories). Maglital’s business plan for 2015-2017 envisages €21 million in investments aimed at strengthening the company’s international presence by opening 20 flagship stores and 100 new franchised stores worldwide, in particular in the Turkish and Chinese markets. In support of these investments, SACE has guaranteed loans for €8 million (of which €3 million are provided by Banca Monte dei Paschi di Siena), while Simest joined the shareholding of the Finac Group, acquiring a 26% stake – equal to €7 million. The intervention is intended to provide financial support for the brands’ operations in Turkey, a market that will act as a hub for Iran, where the company is registering good results, and in China, through the implementation of partnerships with local companies. Maglital is already present in the Middle East, the US, Spain and Brazil, and with these operations it further strengthens its position. Sace and Simest also confirm their supporting role in the development plans of Italian companies towards export and internationalization, in key sectors of Made in Italy. (Red)
