EXCLUSIVE: Celebrity-Favorite Footwear Brand Alevì Milano Sells Majority Stake

Alevì Milano, the Italian luxury footwear brand beloved by celebrities including Beyoncé, Reese Witherspoon, Zoe Saldaña, Demi Moore, Hailey Bieber, and Kendall Jenner, among others, is ready for its next phase of growth — with a business partner to boot.

Founded in 2019 by Valentina Micchetti and Perla Alessandri, the brand has sold a majority stake to Mexico-based Bal Group, a multi-industry business helmed by chairman Alejandro Baillères with interests in retail giant El Palacio de Hierro and jewelry label Tane, among others.

Financial terms of the deal were not disclosed, but it is understood that the two cofounders have retained a significant minority interest in the company.

Micchetti and Alessandri will also continue to serve in the respective roles of chief executive officer and chief production officer. Together, they design the brand’s collections.

The former, a public relations expert running her own agencies in Milan and Los Angeles, is also in charge of Alevì Milano’s marketing activities, while Alessandri has leveraged her family company Grey Mer Srl’s know-how in footwear manufacturing. The latter company, based in Italy‘s storied San Mauro Pascoli shoe district, has recently sold a majority stake to Chanel, a longtime client. It also produces and distributes the premium contemporary house brand 3Juin.

In the span of six years, the brand has grown into a red carpet fixture, since after the 2019 Vanity Fair Oscar Party when Jenner was seen pairing her Rami Kadi gown with leather and PVC stiletto pumps by Alevì.

Identified by a pearl set in the outsole, Alevì Milano shoes are known for their sexy and glam aesthetics, best exemplified by the signature “Stella,” a stiletto pump showing a refined cagelike upper and a double ankle strap, as well as the “Penelope” ankle-strap pump dotted in crystals and the “Ally” model.

In 2023 Alevì Milano generated revenues of over 2 million euros, the most recent financial figure publicly available.

Born as a side gig to their respective jobs, Alevì Milano has become a full-fledged business, Micchetti told Footwearnews speaking at the company’s headquarters, a tony apartment in downtown Milan. She noted how their determination and business strategy spurred interest among investors.

“We met Bal Group through my PR activities and then El Palacio de Hierro buyers approached us,” Micchetti said. “As they introduced our brand to the luxury department store [in 2022] we started engaging in conversations about potentially opening up to investments, especially a retail investor becoming our partner,” the Alevì Milano’s CEO said.

 “Over the years we’ve been approached by other players, but Bal Group emerged as the most interesting one for their ties with the South American market, where we see a strong potential,” Micchetti offered. “They also boast a crucial experience in retail. Their vision was trustful and their structure will allow us to scale up from our start-up status,” she said, noting that the team has been already beefed up with hires across key operations.

“Our ambition is to be able to grow organically over time, without financial pressures and burdens,” she offered. “So far we’ve grown but have remained a nimble business, which has ensured profits,” she said.

“We are thrilled to invest in Alevì Milano, an exciting high-end brand that has carved out a unique space in the luxury footwear market,” said Baillères in a statement. “With its signature blend of style, sophistication, and impeccable craftsmanship, Alevì Milano has captured the attention of the most discerning clientele worldwide. We welcome this fantastic opportunity to partner and work closely with Valentina and Perla to build a lasting and successful future for Alevì Milano,” he added.

As part of the business plan defined with the new majority stakeholder ahead of the acquisition, Alevì Milano is opening its first flagship store in Porto Cervo, Italy in May, a two-story boutique at the local Promenade du Port luxury retail complex, marking a significant step forward for the footwear brand’s mainly wholesale-driven business.

On April 1, the label is also debuting a monthlong pop-up shop at Harrods located at the department store’s footwear haven and a corner at Milan’s Rinascente department store a few days later, on April 7, in conjunction with Salone del Mobile and Milan Design Week. “It’s a reason of great pride because we will be flanked by all our competitors,” Micchetti noted.

The brand currently counts 50 stockists globally, mainly located in the Mediterranean basin, Europe, including Eastern countries, and the Middle East. Retailers include Italy’s Antonia, Al Duca D’Aosta, Deliberti, and LuisaViaRoma, as well as the British Harrods and Selfridges; Beymen in Turkey; Level Shoes in Dubai; Harvey Nichols in Doha, and Tsum and Helen Marlen in Russia, among others.

Upon its launch Alevì Milano had inked an exclusive in the U.S. with Barneys New York but scaled back its presence int he country since after the retailer’s bankruptcy, forgoing American department stores.

“One of our objectives is to address the North American market again,” Micchetti said. She also noted that investing more heavily in the brand’s e-commerce performance is among the priorities.

The footwear label handles distribution internally and has forgone traditional presentation formats, holding sales campaigns at its headquarters. It also frequently engages with its community with one-to-one appointments around the world offering top clients customization services.