Synova Capital (“Synova”) is pleased to announce that portfolio company TLG Brands (“TLG”) has signed an initial agreement for up to 40 fashion concessions for its fast growing Nica brand with Gruppo Coin of Italy. Gruppo Coin owns the Coin and Upim department store chains making it the largest department store chain in Italy, with over 235 sites. Nica will open 15 concessions during August and September with a further 25 to open over the next 12 months.

Mike Hiscock, CEO of TLG commented: “We are delighted to be partnering with Italy’s leading fashion retailer of luxury brands. We are very confident that Nica’s fantastic combination of brilliant design and affordability will prove a great success with Gruppo Coin’s customers. TLG’s overall business goes from strength to strength with the company achieving international sales growth of c.40% in the last financial year and overall sales growth of c.20%.”