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Grupo 21 Investimenti, founded and led by Alessandro Benetton through its fund 21 Investments III, has acquired the majority of Contemporary Bags, a company which owns Group Gianni Chiarini.

The Gianni Chiarini Group, based in Florence, is active in the design, creation and distribution of quality bags and accessories and takes pride on its ‘100 percent made in Italy’ production. The company ended 2016 with revenues of 35 million euros and an export quota of 60 percent of revenues, highlights the Italian journal ‘La Stampa’.

The deal will allow 21 Investimenti to grow Gianni Chiarini Group’s turnover, with the entry into new markets and better penetration of existing ones, the exploitation of new distribution channels, a renewed attention to style, design and the opening of new shops.

Chiarini will remain a partner and will continue to be operational in the company.

"The Gianni Chiarini Group - Benetton says - has all the features that 21 Investimenti seeks when selecting a project in which to invest."