Founded in 1982, AUTRY, an American sports footwear brand, initially rose to prominence with its tennis, running, and fitness shoes. Known for its retro design and the iconic “the Medalist” tennis shoe, AUTRY's success waned after the founder’s death in 2009, leading to its decline.
In 2019, AUTRY was acquired by Italian entrepreneurs, leading to a remarkable turnaround. The brand’s sales surged from €3 million in 2019 to €114 million in 2023, with an EBITDA profit of €35 million. AUTRY aims to reach €300 million in annual sales by 2026—a 100-fold increase in seven years!
Recently, Style Capital, an Italian private equity firm, announced plans to invest €300 million to acquire a controlling stake in AUTRY, which is now valued at approximately €600 million. Roberta Benaglia of Style Capital described AUTRY as a “sleeping beauty” with a strong heritage and distribution network, cleverly positioned between classic sports and luxury segments.
In 2019, Alberto Raengo and partners acquired AUTRY, transforming it into a modern lifestyle brand. By 2021, the Made in Italy Fund, led by Mauro Grange and former GUCCI CEO Patrizio Di Marco, had significantly increased AUTRY’s value. The focus on customization and classic models helped revitalize the brand, leading to impressive sales growth.
AUTRY’s “the Medalist” was a top product in the 1980s. The revamped AUTRY team reintroduced this classic design with modern customizations, appealing to a new generation. The use of bold colors and customization options, along with a retro aesthetic, boosted the brand’s appeal in Europe.
AUTRY initially focused on luxury boutiques in Europe and has since expanded to the U.S. market, including high-end retailers like Nordstrom and Saks Fifth Avenue. The brand is also exploring pop-up stores in Asia, including Seoul, Taipei, and Tokyo, with plans for further expansion into mainland China. Customization and strategic market positioning play key roles in this global growth.
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Post time: Aug-28-2024
