Eurmoda Group acquires 100% of Macuz

The transaction represents the successful culmination of a path aimed at the creation of a premium Made in Italy hub for the production of high-end fashion accessories

Milan, Nov. 2nd, 2023 – Eurmoda Group (“Eurmoda”), one of Italy’s leading players in the production and supply of accessories for high-end fashion brands, has acquired 100% of Macuz S.r.l. (“Macuz”), a historic Florentine company active in the production of top-quality metal accessories.

Founded in Florence in 1952 by Marcello and Alma Macuz, the company represents a historic pillar for the production in the Italian fashion industry, which over the years has been able to grow and consolidate following a philosophy based on strong territorial roots, craftsmanship and the highest quality of its productions. Thanks to the acquisition, Eurmoda will enrich its customer base and strengthen an already complete structure of technologies, skills and plants, which offers the full range of materials required by the high fashion segment, through a vertical service and a fully integrated supply chain. The Macuz family will reinvest in the Group and remain actively involved in the operational management of the companies.

Thanks to this new acquisition, Eurmoda aims to reach €100 million in sales and further consolidate its structure: as of January 1st, 2024, the holding company Margot and ABC Morini will merge into Eurmoda, which will thus lead the high fashion accessories manufacturing group.

The production hub will continue its growth path, investing in people, focusing in particular on female participation at all seniority levels, and on sustainability, for instance through the use of continuous recycling systems, photovoltaic panels, and solutions for air purification and heat recovery. All of this aims to distribute value along the entire supply chain, with a view to virtuous and sustainable growth, in complete harmony with the sensibility of the main client brands.

Established in the Veneto region of Italy in 1986, Eurmoda was born from the desire to synergistically combine the skills of companies producing high fashion accessories with mechanical and technological skills derived from eyewear in the Belluno district and goldsmithing in the Vicenza district. In October 2019, Mindful Capital Partners, an independent private equity firm, took over the company, creating the holding company Margot S.p.A., with the aim of creating a platform of excellence in the sector, distributed throughout the country. A path that has seen as milestones the acquisition of Alce S.r.l., in Valsamoggia (BO), and ABC Morini S.r.l., in Scandicci (FI). Thanks to MCP’s support and reinvesting in its own growth, Eurmoda has managed to consolidate relationships with major luxury brands and is now active in Veneto, Emilia-Romagna and Tuscany, under the leadership of CEO Marco Vecellio.

“Macuz represents one of the best expressions of Italian know-how in the field of fashion excellence,” said Marco Vecellio, CEO of Eurmoda. A reality that has been one of the pioneers in the development of Italy’s manufacturing sector in the luxury industry. We are really happy to be able to combine our skills, reinforcing a leadership based on uncompromising quality and a solid entrepreneurial culture based on sustainability and enhancement of the territory.”

“Auro Macuz’s talent and entrepreneurial foresight have made the company a true jewel in its sector in Italy, with a history of growth that has lasted more than 70 years,” said Andrea Tuccio, Managing Partner of Mindful Capital Partners. “The quality of its products, recognized by the biggest international fashion houses, is the result of a corporate culture constantly striving for excellence in all components of the value chain, in which people, their passion and skills, occupy a central place. We are really proud to have accompanied Eurmoda in this operation, creating a group capable of playing a leading role for Made in Italy in a fast-growing market.”

“We are really happy to join a leading and appreciated group,” commented Auro Macuz, CEO of Macuz. “I am sure that the coming together of Eurmoda’s and MCP’s expertise will ensure the continuation of a sustainable growth path that has never stopped, and that has led us to become one of the most appreciated players in the world of accessories for high fashion brands.”


Eurmoda Group was assisted by Giovannelli & Associati for all legal aspects, KPMG for financial due diligence, Gitti & Partners for the tax aspects of the transaction and Tauw for EHS due diligence. Macuz and the Macuz Family were assisted in the transaction by Aldo Currò of Studio Currò as tax advisor, Massimo Bersani, partner of Livolsi & Partners S.p.A., as financial advisor and Lara Livolsi in relation to the legal aspects. The transaction was financed by Cassa Centrale Banca, assisted by Shearman & Sterling. The notarial aspects of the transaction were followed by Studio Notarile Milano Notai.


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