Gucci's surging profits prompt Investcorp to cash in its chips; secondary offering could give Investcorp $1.3B.

Daily News Record, March, 1996 by Ryan, Thomas J.

Investcorp has filed a secondary offering to sell the remainder of its stake in Florence, Italy-based fashion house Gucci Guccio S.p.A. The sale will represent the final chapter of Investcorp's ownership of the tremendously successful design firm, which it bought between 1987 and 1993. Gucci's sales have skyrocketed since 1987, and in 1995, it reported sales of $500.1 million, an 89.7% increase over 1994. Gucci Pres Domenico de Sole attributed the outstanding results to a strong brand name and better advertising programs and product delivery. Investcorp stands to net approximately $1.5 billion from its 8-year ownership of Gucci.

NEW YORK (FNS) -- Capitalizing on Gucci's report of rocketing 1995 results on Tuesday, Investcorp SA filed a secondary offering to sell its...

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