MILAN, March 31 Italian women's clothing brand
Twin-Set may list its shares by early 2016, an official from its
main shareholder, U.S. private equity firm Carlyle, said
"A listing is without doubt a possibility," Marco De
Benedetti, head of Carlyle in Italy and co-head in Europe, said
on the sidelines of a conference in Milan.
"It is not going to happen imminently. I think the horizon
is around the end of 2015 or beginning of 2016. We are busy with
the challenge of expanding internationally, we are pushing to
grow," he said.
Carlyle bought a 70 percent stake in holding company Light
Force, which owns Twin-Set, in June 2012. A source close to the
matter said at the time the deal gave the brand an enterprise
value of 300 million euros ($413 million), or 7.5 times earnings
before interest, tax, depreciation and amortisation.
Revenue for the label founded by Tiziano Sgarbi and Simona
Barbieri rose 20 percent in 2013 from 140 million euros ($193
million) in the previous year, Sgarbi said in a recent
($1 = 0.7271 Euros)
(Reporting by Massimo Gaia, writing by Isla Binnie)