(Alliance News) - Caleffi Spa announced Wednesday that its subsidiary Mirabello Carrara Spa, a luxury division of the group, has signed an agreement with Hitfactory AG, wholly owned by Mr. Philipp Plein and Philipp Plein International AG, to license the "Philipp Plein" brand.

The exclusive licensing agreement provides for the development, creation, production and worldwide distribution of the luxury Bedding & Bath textile line under the "Philipp Plein" brand, the company's statement said.

The license agreement, which will run from January 2025 and have a duration of three years, will see the presentation of the first official collection at the Maison & Object international trade fair in Paris in January 2025.

Licensed products under the "Philipp Plein" brand will be exclusively distributed in all channels, in Italy and worldwide.

Caleffi's stock closed 2.6 percent in the red on Wednesday at EUR0.90 per share.

By Chiara Bruschi, Alliance News reporter

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