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Business: Da Milano promoters are in advanced talks to sell a significant stake at a valuation of Rs 1,500 crore as the promoter family looks to dilute part of its stake.
The company is in talks with potential investors to dilute equity stake in the business, an anonymous executive aware of the development told ET Bureau. The promoter family is mulling over whether to “dilute a minority or a majority stake” in Da Milano.
In order to execute the sale mandate, Da Milano’s promoters, Surinder Malik, Salil Malik, and Sahil Malik, have signed up with consulting firm PricewaterhouseCoopers India. The seller had already seen interest from strategic investors as well as quite a few private equity firms.
Da Milano was an entity established in 1989 and deals in high-quality handbags besides wallets and accessories. Tofler’s intelligence platform said that the brand generated Rs 233 crore in revenue with a profit of Rs 39.4 crore in the financial year 2023. Da Milano sells in India through its brick-and-mortar network spread across the country as well as online through multi-brand platforms like Nykaa, Tata Cliq, Myntra, and Amazon India among others, and also through its direct-to-customer e-commerce store.
