Excelsior Milan soon to Guangzhou Canudilo group

FashionOnAir Fashion News Excelsior

Coin-OVS in few days will hand over Milan Excelsior multibrand to Guangzhou Canudilo group.
Antonia Giacinti last July had already signed an agreement with Canudilo for the opening of five stores in Greater China area. This news – together with the closure of Verona Excelsior store – resulted in rumors about the change of strategy of the group and the possibile cession to the ciìhinese company.

The official announcement is expected soon and then the luxury megastores idea developed by Stefano Beraldo – Ovs CEO – will drain into Guangzhou hands, that have already acquired the majority shares of Bikkembergs and that is in charge of Greater China retail for many fashion houses.
The deal with Canudilo Group is worth 21.3 million euro and include all future Excelsior stores opening. Stefano Beraldo will instead be in charge of Rome and Venice stores, through OVS-Coin Group. The choice of new brands Excelsior Park will remain headed by

Maurizio Purificato, together with his wife Antonia Giacinti, will keep their role as responsible of the selection of the brands for the new Excelsior mega stores.
Guangzhou Canudilo group indeed would continue in the way drawn since 2011 by Excelsior founder, that has driven to a successful group and that has granted high revenues also in 2016 despite the economical slowdown and the reduction of turistic flows.

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