NUO Capital acquires minority stake in Slowear

Roberto Compagno, president and CEO of smart casual clothing company Slowear, the brand known for its Incotex, Zanone, Montedoro and Glanshirt brands, has announced a long-term partnership agreement with NUO Capital, which is acquiring a minority stake in the company. NUO's resources, skills and knowledge of the Asian market will boost an ambitious development plan aimed at doubling the company's turnover over the medium term.

NUO Capital's entry represents an important new development, consistent with the members' desire to remain at the head of their company and at the same time accelerate their development in terms of strategy and size.

"Our goal is to provide an important boost to the company's development," said Compagno in a statement, "accelerating the roll-out of the monobrand retail format, developing the channel and digital communication, and facilitating entry into the Asian market, where we see great potential. NUO Capital is a partner that's consistent with our family business culture, and which can support us, both in growth and in managing the strategic challenges in our sector. We were struck by NUO Capital's philosophy, by their long-term approach and by their willingness to support the best family and entrepreneurial businesses, sharing their values, and with the common goal of developing Italian excellence in the East."

"After investments in Italian wine (with Terra Moretti) and design (Sozzi Arredamenti), we are continuing our journey with luxury "smart casual" clothing and with the Compagno family," added Tommaso Paoli, CEO of NUO Capital, in a statement. "We are not an investment fund but an initiative based on the concept of family, supporting visionary entrepreneurs and allowing them to do their work well, as they have done for decades. All of that has been made possible thanks to the Pao Cheng family, one of the most important in the whole of Asia, whose epic story began in the 1950s/60s with Yue-Kong Pao, one of the first Chinese entrepreneurs in Hong Kong, who was initially active in the naval sector and greatly admired by global leaders. Stephen, his grandson, head of the family office and president of NUO Capital, dreams of linking their story with that of Italian entrepreneurs, using their connections to bring Italy's excellence to China."