Ciro Citterio Menswear
Hilco Streambank was appointed to conduct a sales and marketing exercise of the Ciro Citterio brand and associated intangible assets. Ciro Citterio was a heritage brand in the menswear industry, which was historically traded in over 150 high street stores and generated over £65m ($84m) in annual revenue. We conducted a comprehensive sales and marketing exercise directed at our extensive database of buyers of assets in the retail sector. We reached out to potentially interested parties with a teaser detailing the opportunity and conducted targeted calls to known retail contacts. The opportunity generated a substantial amount of interest from parties introduced by Hilco and a number of offers were received for the intellectual property. Hilco effectively managed the competitive bidding process and secured a deal with the highest bidder, a major UK retailer. The deal was successfully completed, resulting in a greater than expected return for the assets. Deal terms were not disclosed.