The brand Carlo Pazolini declared bankruptcy
The brand of shoes and accessories Carlo Pazolini was founded in 1990 in Italy by the Russian businessman Ilya Reznik.
The other day it became known that the company officially declared itself bankrupt. In 1995, Carlo Pazolini opened his first brand store. In just two years, the brand was able to launch its own production. Already in 2000, Carlo Pazolini held about 70% of sales in Russia, and the wholesale company sold annually about 30 thousand pairs of shoes in the US and the Czech Republic.
In 2005, the number of branded stores of Carlo Pazolini reached 46, and the turnover of the company was $ 65 million. A year later, the company changed its CEO to Arnold Pasternak. Under his leadership, Carlo Pazolini began to conquer the foreign market.
By 2010, Carlo Pazolini had its own branded stores in the Czech Republic, the Baltic countries, Ukraine, Moldova and even Italy. A year later, Carlo Pazolini appeared in the United States. The revenue of Carlo Pazolini in the US was record high compared to other countries and exceeded 1.3 million euros per year.
However, this did not save the brand from bankruptcy. In 2014, stores were closed in the US, and then several stores in Europe, including in Ukraine. Carlo Pazolini opened its boutiques abroad by financing creditors. By 2016, the company stopped serving them. And in the spring the first lawsuits began. The first to sue Alfa-Bank in the amount of 50 million dollars, followed by Suerban, UniCredit and others.
The company, regardless of debts, made all attempts to settle accounts with creditors. The brand even tried to change the name and change the positioning strategy, but it did not help either. For the first time in 27 years, the brand changed its name to Pazolini – this could be due to the retention of the name of Carlo Pazolini from one of the creditors.
Recently, the firm “Anta”, owning the brand Carlo Pazolini officially declared it bankrupt. The Moscow Arbitration Court at the end of July recovered 11 million dollars and 8.4 million euro from the company in favor of NPL Invest Ltd.