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Onward sells Olg to its Italian managers

December 22 2020

Japanese fashion group Onward holdings cedes its subsidiary Olg-Onward Luxury Group, which manages the development, production and distribution of several premium labels. Olg has been bought with a management buyout backed by Nemo srl, a holding company that president Fabio Ducci, CFO Antonello Orunesu Preiata and the former owner of Olg Franco Pené are part of. Nemo will be called Him-High Italian Manufacturing.

The company, which represented the Italian subsidiary of Onward holdings, has acquired all manufacturing activities in Italy, as well as international showrooms in Milan, Paris and New York.

Olg currently owns a portfolio of important brands among which stand out Joseph and the sustainable brands including F_wd (a streetwear brand made with recycled materials) and Carlotha Ray (Luxury flip flop made in Italy with compostable rubber). Licensing-wise, Olg produces the footwear collections by Proenza Schouler, See by Chloé, JW Anderson, and Elie Saab’s accessories (shoes and bags), in terms of apparel the company manages the licenses for Rochas, Michael Kors and Elie Saab’s ready-to-wear. Olg also owns Tuscan leather goods Frassineti, Veneto-based knitwear producer Maglificio Erika, the Iris Shoe Factory based in Fossò near Venice, and Iris Sud in Lecce, in the south of Italy.