Italy-based Swinger International continues to make bold moves in the luxury fashion sector. Recently, after investing in Etro alongside Rams Global and SRI Group, the company also acquired Philippe Model Paris, a French sneaker and apparel brand. Although the financial details were not disclosed, this deal strengthens Swinger’s presence in high-end fashion.
The Deal in Detail
Under the agreement, Mathias Facchini, leading Swinger International, signed the deal with 21 Invest. This private equity fund was founded in 1992 by Alessandro Benetton. Previously, 21 Invest had bought a majority stake in Philippe Model Paris in July 2016, when it was called 21 Investimenti. In addition, Swinger International owns Genny, produces the Just Cavalli collections, and holds a minority stake in Etro.
Philippe Model’s Legacy
Artist and designer Philippe Model started his namesake label in Paris in 1978. During the 1980s, he created the popular ‘Elastique,’ a heeled shoe with elastic straps that combined comfort and style. Moreover, he collaborated with leading Parisian designers and fashion houses, including Christian Dior, Claude Montana, Lanvin, and Jean-Paul Gaultier.
From Haute Couture to Sneakers
Philippe Model Paris initially focused on haute couture accessories and interior design projects. Then, in 2008, it relaunched as a premium sneaker brand for men and women. All footwear is crafted in Italy’s Riviera del Brenta, a region known for artisanal shoe-making. As a result, by 2024, the company’s turnover is expected to reach around €30 million, showing its strong growth in the luxury sneaker market.
