Footwear Brand Velasca Secures Investment of 2.5M Euros

Digitally driven Italian footwear brand Velasca has secured a capital infusion of 2.5 million euros ($2.9 million) backed by Italian venture growth firm Milano Investment Partners and venture capital digital specialist P101 Sgr, along with a pool of private investors.

The investment will allow the footwear brand, cofounded in 2013 by friends Jacopo Sebastio and Enrico Casati, to further develop its online and offline presence and grow in Italy and internationally with an omni-channel approach.

“Thanks to this investment we will be able to develop our online sales and implement our physical presence in Italy, Europe and North America,” said Sebastio, noting that in 2017 international sales accounted for 20 percent of the total and 35 percent of revenues were generated online.

To read the full story, please go to WWD.com.

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