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Mariella Burani Fashion Group

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Mariella Burani Fashion Group
Company typeJoint stock company (S.p.a.)
Industryclothing
Founded1960
Key people
Websitehttp://www.mariellaburani.it

The Mariella Burani Fashion Group, based in Cavriago, is a clothing, jewelry and watches company. Founded in 1960 by Walter and Mariella Burani, it became a public company listed on the stock exchanges of Milan and London. In February 2010 the company declared bankruptcy.

History

Foundation

In 1960 Walter and his wife Mariella founded the company with the purpose of the production and distribution of children's clothing.

After the rise of prêt-à-porter for women in the 1970s, the company began to export abroad in the 1980s, and expanded into other lines of clothing, as well as by opening stores.

IPO and expansion of the Group

In July 2000,[1] it was announced that the company would be entering the Milan Stock Exchange. The shares were sold for 7 euro each on 13 and 14 July]2000. From 2000 to 2007 the group opened many new stores and made a number of acquisitions, including stakes in several companies in the leather industry, including Braccialini[2] and Baldinini,[3] Coccinelle,[4] the aim being to cover different geographical areas, as well as offering a range of products.

Crisis and failure

By the summer of 2008 the value of the shares Mariella Burani had declined drastically, by August 28, 2009 they were valued at 2.522 euro each.[5] On August 31 the Italian Stock Exchange announded that Mariella Burani FG ordinary shares were suspended from trading indefinitely. On 11 January 2010, the prosecutor in Milan filed a petition for bankruptcy for Mariella Buran].[6] On 11 February, the Court of Milan declared the failure of Burani Designer Holding, Diego Moscato was appointed as liquidator and on 26 Feb he resigned the entire board of directors[7] On 28 July 2010, the financial police of Reggio Emilia arrested Walter Burani and his son John on charges of fraudulent bankruptcy.[8] His father Walter was placed under house arrest while his son John was held in custody in San Vittore. On September 26, Giovanni Burani was also placed under house arrest.[9][10]

Shareholders

References

  1. ^ Burani, Mariella (June 19, 2000). "THE ITALIAN STOCK EXCHANGE COMMUNICATES THE IPO OF THE MARIELLA BURANI FASHION GROUP". MariellaBurani.com.
  2. ^ "Mariella Burani, Braccialini".
  3. ^ "Burani Purchases Stake in Baldinini". EBSCOhost. Retrieved February 2001. {{cite web}}: Check date values in: |accessdate= (help)
  4. ^ "Coccinelle, griffe di Burani". fashionunited.it.
  5. ^ "About Mariella Burani". World News. Retrieved 6 April 2013.
  6. ^ tg24, sky (11 January 2010). "Mariella Burani, chiesto fallimento della holding olandese". {{cite journal}}: Cite journal requires |journal= (help)CS1 maint: numeric names: authors list (link)
  7. ^ "Burani: si dimesse intero cda, a marzo assemblea su scioglimento societa' Visualizza altro http://archivio-radiocor.ilsole24ore.com/articolo-787018/burani-dimesse-intero-cda-marzo". ilsole24ore.com. 26 February 2010. {{cite journal}}: External link in |title= (help)
  8. ^ "Un enorme "buco" da 700 milioni di euro il 28 luglio 2010 scattò il doppio arresto". Gazzetta di Reggio. 3 February 2013.
  9. ^ Stefano Campani, Paolo Pergolizzi. Mariella Burani fashion group. Storia di un crac. Ediesse.
  10. ^ "Sei anni di carcere al marito e al figlio della stilista Mariella Burani". Rainews24.it. 2013-02-02.
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