Da Milano looks to sell off significant stake in business

Handbag and accessories brand Da Milano’s promoters are exploring selling off a significant stake in the business at a valuation of Rs 1,500 crore as the promoter family looks to dilute part of its stake.

“The company is in talks with potential investors to dilute equity stake in the business,” an anonymous executive aware of the development told ET Bureau. The promoter family is mulling over whether to “dilute a minority or a majority stake” in Da Milano.
 
In order to run the sale mandate, Da Milano’s promoters Surinder Malik, Salil Malik, and Sahil Malik have partnered with consulting business PricewaterhouseCoopers India. Da Milano has already seen interest from both strategic investors and a number of private equity firms, according to the source.
 
Da Milano was founded in 1989 and specialises in premium handbags as well as wallets and accessories. The brand reported a revenue total of Rs 233 crore in the 2023 financial year with a profit of Rs 39.4 crore, according to data from intelligence platform Tofler. In India, Da Milano retails from its network of brick-and-mortar stores across the country and online with multi-brand platforms including Nykaa, Tata Cliq, Myntra, and Amazon India among others as well as its direct to customer e-commerce store.