Diesel Founder Renzo Rosso Buys Marni

After months of speculation, Diesel founder Renzo Rosso confirmed this week that his company Only The Brave was to acquire a majority of Italian firm Marni. Marni joins other brands owned by Rosso, such as Maison Martin Margiela and Victor & Rolf, with plans for further international expansion.

Founded in 1994 in Lugano by fur businessman Gianni Castiglioni and his Swiss-born designer wife Consuelo, Marni expects to confirm revenues of 130 million Euros by the end of the year, generated in its 100 stores worldwide (two of which only located in Italy).