Made in Italy Fund invests in high-end cosmetics

Made in Italy Fund officially became a shareholder in this Italian high-end cosmetics brand. On December 12, made in Italy Fund announced that it had signed an investment agreement with rougj involving the acquisition of old stocks and capital increase, and formally took a stake in the Italian high-end cosmetics brand. According to made in Italy Fund, the purpose of the stake is to support rougj to expand its international business, especially to develop key markets such as Germany, China and the UK, and to improve its brand positioning through targeted marketing strategies, especially in the digital field. "Our vision is to make rougj a top brand in the pharmaceutical industry," said Antonio pirillo, chief executive of Nbsp rougj. Competition with international companies has always existed and will continue to be a daily challenge for us. But with our determination and enthusiasm, as well as the support of made in Italy Fund, we are confident to achieve the set goals and further improve the brand positioning. " Founded in 1987 by Antonio Russo (who quit the company at the end of 2017) and Marco giraldi (the current commercial director), rougj is headquartered in riyas, and its products include facial, body and hair care products, as well as sunscreen and make-up products. All products are made of natural materials and do not use animal testing. Its products are sold in more than 5300 pharmacies across Italy. Rougj expects sales to exceed 15 million euros in 2019, 80% of which will come from the Italian market, while the main overseas markets are France and Spain. This year's EBITDA is expected to exceed 3 million euros. As part of the deal, pirillo, giraldi and Alessandro fier (Marketing Director) will remain in their current positions and hold some of the shares, while another shareholder, Ettore Favia, will leave and sell all of their shares. This acquisition is the third investment of made in Italy Fund. In September last year and November this year, they respectively acquired 120% of the majority equity of the parent company palladium Moda S.r.l of Italian linen clothing brand, and 52% of the equity of Mohd, an Italian high-end furniture design and distribution enterprise. Made in Italy Fund is jointly founded and managed by Alessandro binello, Walter ricciotti, David pambianco, Mauro grange and Alessio candi. Its investment targets include many small and medium-sized Italian enterprises in the fields of fashion, food, beauty and furniture, all of which are symbols of Italy's exquisite craftsmanship.