Russian businessman acquires Italian cashmere producer


Sergey Lomakin, a businessman and co-owner of Tsentrobuv, one of Russia’s largest footwear chains, has acquired a stake in Malo, one of Italy’s largest and oldest cashmere companies. Details of the deal were not disclosed, although Daria Yadernay, of fashion analyst Esper Group, said this may be €40-100m (US$51-127m).

While the customer base for premium knitwear is small, there may be room for growth for Malo, as the current share of cashmere in the Russian knitwear market is estimated at 4.6%, said Yadernay.

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