Mahindra has bought Italian designer Pininfarina

Pininfarina

Indian billionaire Anand Mahindra’s conglomerate bought Italian car designer Pininfarina yesterday as the group looks to add flair to its offerings while continuing its push into Europe. Tech Mahindra, the IT focused arm of the acquisitive Mahindra group, and Mahindra & Mahindra, the company’s auto business, together bought the iconic Italian brand for roughly €33 million… Pininfarina, whose designs included the Ferrari Testarossa and Alfa Romeo Spider, has been unprofitable for 10 of the past 11 years… Pininfarina is the latest Italian luxury brand to be snapped up by a foreign buyer. In the past five years, France’s LVMH bought Bulgari and Loro Piana, Kering bought Pomellato, Qatar’s Mayhoola bought Valentino, ChemChina bought Pirelli and Haworth of the US bought Poltrona Frau.

 

David Keohane and Rachel Sanderson

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