Richemont bets on Italian knitwear with the acquisition of Miles

Swiss group Richemont strengthens its footprint in the world of luxury goods by acquiring 85% of Miles, an Italian knitwear specialist. A strategic operation to diversify and optimize its production capacities.

A company emblematic of “Made in Italy

Founded in 1962 and based in Vicenza, Miles is a benchmark in the high-end knitwear sector. The Italian company has built its reputation by collaborating with some of the greatest fashion houses, including Yves Saint Laurent, Céline, Giorgio Armani and Dolce & Gabbana. Richemont, which had already worked with Miles on some of its projects, thus strengthens its vertical integration in luxury fashion and textiles.

Despite this acquisition, the Bocchese family, which has run the company until now, will retain key roles in the organization. Domenico Oliveri, new president of Miles and director of industrial operations for Richemont’s fashion and accessories sector, points out that the company has 60 years of expertise, making it a key player in Made in Italy.

A strategic acquisition for Richemont

While Miles will continue to work with its historic customers, this acquisition enables Richemont to consolidate its capacity for innovation in the knitwear sector. The Italian company is already working on several strategic projects linked to advanced modeling, new materials and the integration of technical know-how, bringing a competitive edge to the Group’s brands.

This operation is part of a growth dynamic for Richemont. Its fashion activities grew by +7% between October and December 2024, reaching sales of 6.2 billion euros (+10%). In the first nine months of its fiscal year, the group recorded revenues of 16.2 billion euros (+4%), confirming its expansion.

With this acquisition, Richemont strengthens its textile know-how and production capacity, consolidating its position in the luxury fashion sector.

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