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Friday, December 6, 2013

Young Italian shoe brand Moretti gets private equity backing, (TSE: MB.TO)

Italian luxury shoemaker Alberto Moretti, known for his velvet slip-ons and stilettos made with 24-carat gold, has secured backing from a newly-formed private equity firm in the latest deal involving a promising young designer. Investors and luxury goods firms are increasingly taking bets on young brands as consumers become more sophisticated, particularly in emerging markets, and appetite for ubiquitous mega brands such as Gucci and Louis Vuitton wanes.Luxury industry leader LVMH recently invested in two fledgling British fashion brands J.W. Anderson and Nicholas Kirkwood, while rival Gucci-owner Kering took a stake in young French-American designer Altuzarra.Alberto Moretti, 38, comes from the Moretti family whose Tuscan factories have been making shoes for several generations and still work for brands including Salvatore Ferragamo , Gucci, Prada and sister label Church's.His company received attention this year by selling shoes made with 24-carat gold in a Dubai mall for $4,800, tapping into one of the biggest markets for luxury shoes in the world.

MEGA Brands Inc. (MEGA Brands) designs, manufactures and markets toys and stationery products. Shares of MB traded higher by 1.87% or $0.3/share to $16.30. In the past year, the shares have traded as low as $9.32 and as high as $18.00. On average, 44592 shares of MB.TO exchange hands on a given day and today's volume is recorded at 18290.