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Il Bisonte

Il Bisonte

Invested
June 2015

Sector
Leisure and Retail

Headquarters
Florence, Italy

Region
Europe, Asia and the US

Business
Italian leather accessories brand

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Business at time of investment

Founded in 1970 in Florence by Wanny di Filippo, Il Bisonte is one of the few remaining large independent Italian producers of hand-crafted luxury leather handbags and accessories.  It is globally recognised for its artisanal products made from naturally treated, vegetable-tanned leather sourced from Santa Croce sull'Arno in Tuscany. Il Bisonte’s footprint covers Europe, the US and Asia and the company sells its products through a retail portfolio of over 50 sites including mono-brand boutiques and department stores. The company has established a particularly strong presence in Japan where its products are sold through a rapidly growing network of more than 30 stores in partnership with listed distributor Look Inc. Its well-known products represent the essence of Italian artisanal spirit and high quality.

Investment rationale

Palamon’s investment in Il Bisonte stemmed from its ongoing thesis work in specialty retail that identified well-positioned European brands that could rapidly accelerate growth in a global market.  Palamon believe that Il Bisonte, an established brand in the fast-growing affordable luxury segment, offers a particularly exciting opportunity for growth through continuing geographic expansion across both developed and emerging markets and improving its distribution capabilities through retail, wholesale and online channel. The company has the potential to build its infrastructure with an experienced management team and become a large exporter of made in Italy products without losing its traditional, artisanal and local roots

Value creation

  • Institutionalised management: In 2015, appointed Giuseppe Bonfiglio (ex Botega Veneta) as CEO, appointed Marcello V. Bottoli (ex CEO Pandora and Louis Vuitton) as Chairman.
  • Refine product strategy, without losing history and authenticity
  • Drive expansion across developed and emerging markets through wholesale, online and selective retail channels