MondeVita Acquires Underscore District to Scale Italian Luxury

The transaction follows MondeVita’s recent purchase of the Soragna-based menswear manufacturer Raffaele Caruso S.p.A. By integrating Underscore District, the group gains the brand development and merchandising capabilities necessary to complement the industrial foundation established by Caruso. Underscore District, founded in 2022 by Edoardo Di Luzio, generated over 7 million euros in sales during 2025 across a global network of 150 retailers.

Central to the deal is Magliano, the Bologna-born label led by Luca Magliano, which gained international prestige after winning the LVMH Karl Lagerfeld Prize in 2023. Under the new ownership structure, Magliano will gain access to Caruso’s manufacturing resources to support its global expansion. The acquisition also encompasses the technical workwear label GR10K and the Milanese multi-brand retailer WOK Store, both of which are slated for further growth within the MondeVita ecosystem.

MondeVita plans to leverage its proprietary AI technology, managed by its Singapore-based arm, Mondevo Tech, to streamline operations across its new portfolio. Group leadership noted that the speed of their internal AI-driven due diligence allowed them to secure the deal rapidly amidst a broader market trend of consolidation. Edoardo Di Luzio will remain CEO of Underscore District while assuming a strategic role within MondeVita to help identify future investment opportunities and foster cross-portfolio synergies.