Swiss asset manager buys Italian leather brand

10/01/2014
Switzerland-based asset manager Da Vinci Invest has bought Bruno Magli from UK hedge fund Fortelus and plans to expand its product range and develop its wholesale network.

The Italian shoe and handbag brand dates back to the early 1900s when two brothers and their sister set up a workshop in their basement.

It said in October that Fortelus was in exclusive talks to sell it to a consortium of Asian investors.