The Growing Luxury Footwear Brand Finds an Investor to Fuel Its Next Stage of Development
Alevì Milano, the Italian luxury footwear brand favored by celebrities such as Beyoncé Knowles-Carter, Reese Witherspoon, and Kendall Jenner, is set for expansion with a new business partnership. The brand, established in 2019 by Valentina Micchetti and Perla Alessandri, has sold a majority stake to the Mexico-based Bal Group, led by chairman Alejandro Baillères. The group holds interests in major retail and jewelry enterprises, including El Palacio de Hierro and Tane. While financial details remain undisclosed, Micchetti and Alessandri have kept a significant minority interest and will continue in their roles as CEO and chief production officer, respectively.
Alevì Milano has rapidly become a red carpet staple, with its products prominently featured at major events such as the 2019 Vanity Fair Oscar Party. The brand’s offerings are distinct for their luxurious and glamorous design, with standout items like the “Stella” stiletto pumps and the “Penelope” ankle-strap pumps, adorned with crystals.
In 2023, Alevì Milano reported revenues exceeding 2 million euros. The founders, initially balancing this venture with their primary professions, have transitioned the side project into a full-fledged business. Micchetti shared that their proactive business strategy attracted investor interest, leading to their partnership with Bal Group.
Looking ahead, Alevì Milano is expanding its retail presence. It plans to open its first flagship store in Porto Cervo, Italy, in May, situated in the Promenade du Port luxury retail complex. Additionally, the brand will launch a month-long pop-up shop at Harrods in London on April 1, followed by a dedicated corner at Milan’s Rinascente department store during the upcoming Salone del Mobile and Milan Design Week.
The brand, which previously had an exclusive U.S. presence through Barneys New York, scaled back its American operations following the retailer’s bankruptcy. However, Micchetti indicated plans to re-enter the North American market and focus more on enhancing the brand’s e-commerce capabilities. Alevì Milano currently boasts about 50 global stockists, with a strong presence in the Mediterranean, Europe, and the Middle East.