Dive Brief:
- Italian fashion line Walter Albini is being relaunched by Bidayat, the Alsara-owned, Swiss-based investment fund run by Rachid Mohamed Rachid.
- Albini was an influential name in Italian fashion before his death in 1983 and is credited with founding the “Made In Italy” concept. He also helped establish Milan as a fashion center in the 1970s and helped create the concept of Milan Fashion Week.
- Rachid is no stranger to Italian fashion. The former Egyptian Minister of Trade, Industry and Investment is also chief executive at Qatari-based Mayhoola, which owns Valentino and Balmain, and he’s chairman of both labels.
Dive Insight:
After Albini’s death at the age of 42, his work was overlooked in favor of more high-profile Italian names including Giorgio Armani, Missoni and Gianni Versace. However, his influence continued to resonate, and his work as an early champion of ready-to-wear clothing helped establish the concept in the larger fashion world. Albini’s 1920s-meets-1970s styles are also well-suited for a revival, following in the footsteps of other recently revived and revitalized brands such as Schiaparelli.
Bidayat purchased the intellectual property and archives to the Albini legacy for an undisclosed amount from Barbara Curti, whose LinkedIn profile lists her as chief memory officer of the Albini archive. Curti will stay on in an advisory role at Bidayat, according to Vogue Business, and she told the publication, “I am looking forward to having many more generations be inspired by this incredibly talented designer, whose drive for perfection changed the entire Italian fashion ecosystem.”
In the Instagram statement confirming the brand’s revival, Rachid said, “We are honored having unearthed this hidden jewel of Italian high fashion and are currently studying Walter Albini’s vast heritage to set the foundations for the future.”
Rachid is the founder of Alsara Investment Group, a Swiss-based private investment company focused on the luxury and well-being sector whose holdings include jeweler Adorisa Group and eyewear brand Akoni.
Bidayat did not immediately respond to a request for comment, but multiple rumors surrounding the relaunch suggest that Alessandro Michele, the former creative director of Gucci, was being lured out of retirement to helm the Albini relaunch.
