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Instagram star Chiara Ferragni seeks investor to expand abroad -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Venice Film Festival, 76th – Presentation of documentary “Chiaraferragni – Unposted” Red Carpet Arrivals, Venice, Italy, September 4, 2019. Chiara Ferragni poses. REUTERS/Piroschka Van de Wouw/File Photo

By Elisa Anzolin

MILAN (Reuters – Chiara Ferragni (Italian Instagram) has instructed BNP Paribas, OTC:), to identify a new investor in order to expand her fashion brand globally. This was according to one of her financial backers.

Venture capital Alchimia Investments’ Lorenzo Castelli, who holds a 40% share in Ferragni’s company Fenice said that private equity firms and family offices were being considered for possible investments.

Castelli said, in a telephone interview that she and Alchimia co-founded, “We have begun the process in recent days” but did not reveal details.

“An investor new to the market can assist in the implementation of the new business plan. This will allow the company’s next phase.

Ferragni (34), is Italy’s most popular fashion blogger with nearly 26 million Instagram followers.

Ferragni was popularized by the 2009 launch of her fashion blog, theblondesalad.com. Later, she launched the brand of her name, which includes clothes, shoes, and makeup.

Corriere della Sera Daily and WWD Monday were informed by her that Fenice, who owns all licenses and operations for her brand, will double the core profit of Fenice to 2.4 millions euros.

Ferragni holds a 32.5% share in Fenice. The rest is owned by a third Italian investor.

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