The Italian brand Braccialini is starting a new page in its history with the group Graziella, which in February bought the brand, which had previously declared bankruptcy, for 6 million euros, reports Pambianconews.com .

The production of accessories will be managed by a new legal entity Graziella & Braccialini srl, where over 80 Braccialini employees have been rehired.

As Gianni Gori(Gianni Gori), the president of Graziella Group, told Il Sole-24 Ore in an interview with the newspaper, a full-fledged relaunch of the brand will take place in 2018. At the same time, the company aims to achieve a turnover of 12 million euros by the end of 2018, while the preliminary forecast for the current reporting period is 8.5 million euros. Appointed CEO of the new companyMassimo Macchi, who is already vice President of Graziella.

In addition to the 6 million paid by the group when buying Braccialini (the subject of the transaction were the brands Braccialini and Tua, as well as branded boutiques in Rome, Paris, Milan and Florence), the management intends to invest the same amount for restructuring costs and restarting the company. Graziella calls foreign markets the main platform for growth, where there is a huge potential for development, given that previously 70% of Braccialini sales were in Italy. The plans also include synergy with Graziella jewelry, already represented in major markets such as Russia and the CIS, Turkey, and the Middle East.

It is also emphasized that the relaunch will concern only the Braccialini and Tua brands, while the production of other areas that existed in the Braccialini company before bankruptcy, namely licenses forGherardini,Francesco Biasia and Vivienne Westwood, will not be renewed.

Photo: Braccialini.it