MONDEVITA ACQUIRES MAJORITY STAKE IN UNDERSCORE DISTRICT, PARENT OF MAGLIANO, IN SECOND STEP OF NEW ITALIAN LUXURY PLATFORM

On August 5, 2026, MondeVita announced its acquisition of a strategic majority position in Underscore District, a Milan-based brand accelerator known for its associations with notable fashion labels such as Magliano, GR10K, and the multibrand retailer WOK Store. The financial terms of the deal remain undisclosed. This acquisition represents a significant step in MondeVita's broader strategy to establish a comprehensive Italian luxury platform, enhancing its capabilities in brand development, retail, and digital commerce.

Underscore District, founded in 2022 by Edoardo Di Luzio, has quickly positioned itself as a key player in the luxury fashion sector. The company has developed an integrated platform that encompasses brand development, finance, operations, merchandising, and e-commerce. In 2025, its portfolio generated sales exceeding 7 million euros through a wholesale network of over 150 retailers worldwide. This acquisition complements MondeVita's previous purchase of Raffaele Caruso S.p.A., a prominent menswear manufacturer, thereby creating a robust foundation that combines industrial manufacturing with brand-building expertise.

The strategic rationale behind this acquisition is clear. MondeVita aims to leverage Underscore District's capabilities to enhance the operational and organizational strengths of its brands, particularly Magliano, which has gained recognition on both the Milan and Paris Fashion Week calendars. Under MondeVita's ownership, the focus will be on strengthening Magliano's growth trajectory, including access to Caruso's manufacturing capabilities, which will support its international expansion plans. Additionally, GR10K and WOK Store are set to benefit from the synergies created by this acquisition, as they continue to evolve and expand their market presence.

This transaction comes at a time when the luxury fashion sector is experiencing a wave of consolidation, driven by a slowdown in luxury demand that has prompted independent brands to seek partnerships with larger entities. MondeVita's approach positions it as a unique player in this landscape, with in-house capabilities that allow for rapid acquisition and integration of brands. The company's technology arm, Mondevo Tech, further enhances its competitive advantage, utilizing proprietary AI technology to streamline operations across its portfolio.

Looking ahead, MondeVita's acquisition of Underscore District marks the beginning of a broader investment phase, with plans for additional acquisitions and strategic partnerships aimed at creating an internationally competitive Italian luxury platform. The current market dynamics present a rare opportunity for MondeVita to consolidate complementary capabilities and talents, setting the stage for a new cycle of growth in the luxury fashion sector. As the landscape continues to evolve, the integration of creativity and craftsmanship within this platform may redefine the future of Italian luxury fashion.