The deal adds brand development, retail and e-commerce to MondeVita after its acquisition of menswear manufacturer Raffaele Caruso S.p.A., as consolidation spreads across Italy's fashion supply chain.
MondeVita has acquired a strategic majority stake in Milan-based brand accelerator Underscore District, adding brand development, retail and e-commerce capabilities to the manufacturing base it secured through Raffaele Caruso S.p.A., whose 2025 revenue was 34.2 million euros. Financial terms were not disclosed, and the deal is backed by Underscore District's existing shareholders as the second step in MondeVita's plan to build a new Italian luxury platform. Founded in 2022 by Edoardo Di Luzio, Underscore District built an integrated platform spanning brand development, finance, operations, merchandising and e-commerce, with a portfolio that generated more than 7 million euros in 2025 through a wholesale network of more than 150 retailers worldwide. The acquisition brings in Magliano, GR10K and Milan multibrand retailer WOK Store, with MondeVita planning to strengthen Magliano's organizational and industrial capabilities, including access to Caruso's production facilities, while supporting international expansion. The move comes as weaker luxury demand pushes independent designer labels toward larger partners for capital, infrastructure and distribution, and Edoardo Di Luzio will remain CEO of Underscore District while taking a strategic role within MondeVita as the group pursues further acquisitions and partnerships.