Pronovias refreshes board of directors after generating €150 million in sales in 2022
PronoviasBain CapitalBC Partners
As reported by the El Economista newspaper, the newly-formed board of directors consists of both financial experts and other professionals with a background in the fashion industry. The board is chaired by Gianni Serazzi, an Italian executive with extensive experience in the luxury sector (having previously worked for Switzerland’s Richemont
The board of directors is composed of two other Italians, namely Francesco Lampone and SandroNet-a-PorterEtro
The inaugural meeting of the board of directors is scheduled to take place in May, and as reported by the financial publication Expansión, it will endorse the company’s strategic plan for the 2024-2026 term, during which the company aims to achieve a turnover of €200 million. In 2022, the Pronovias group experienced a 45% surge in sales, reaching €150 million, and this year, it forecasts a 10% growth.
In addition to its economic objectives, Pronovias has outlined a strategic plan to become a market leader in the United States. To achieve this, it plans to capitalise on the market niche left by David’s Bridal after its bankruptcy, expand its offerings with Vera Wang
As part of this new phase for the company, it was recently announced that its new shareholders will inject €110 million of capital to improve its liquidity and reduce its debt.