Paula Cademartori, has sold a majority stake of her eponymous accessories brand to Only The Brave, the Italian fashion group run by investor Renzo Rosso.
Financial terms of the deal were not disclosed.
“I find Paula creative, modern and complete – she can discuss every facet of what we do with a very distinctive voice,” Rosso said in a Business of Fashion report. “Within our group, she will continue to freely create innovative, ‘brave’ products, also thanks to the structural support we will provide her, and together we will create a new success story based on a unique identity and borderless creativity.”
Cademartori launched her Italy-based accessories brand in 2010, is known for boldly designed, functional clutches featuring bright colors and has quite the celebrity and influencer following with stars including Beyoncé, Miroslava Duma and Lady Gaga.
The new investment will be used to expand the brand’s reach internationally, with a focus on the United States and Asia, in addition to opening its first flagship store.
“Until now, the brand was very small and a niche brand, so I am super happy to get more visibility and the opportunity to open more stores,” Cademartori said in the report. There are lots of projects coming.”