ITTIKAR, Mondevo Group's AI-native merchant bank, served as exclusive advisor, deploying proprietary artificial intelligence across due diligence and execution.
ABU DHABI, United Arab Emirates and MILAN, Feb. 6, 2026 /PRNewswire/ -- MondeVita, the lifestyle and luxury division of Mondevo Group, today announced the completion of its acquisition of Raffaele Caruso S.p.A. from Lanvin Group. The transaction was completed through MondeVita Italy S.r.l. and establishes Caruso as the cornerstone of MondeVita's luxury platform. Founded in 1964 in Soragna (Parma), Caruso is among the world's foremost manufacturers of luxury men's tailoring. More than 450 artisans combine time-honoured craftsmanship with contemporary production techniques, serving leading global fashion houses and, through the Caruso brand, a curated network of the world's finest menswear retailers. The company generates annual revenues of approximately €35 million.
The Role of ITTIKAR
ITTIKAR, Mondevo Group's AI-native merchant bank dedicated to family offices, served as exclusive advisor throughout the transaction. Developed by Mondevo Tech, the Group's in-house technology division comprising more than 40 AI engineers in Singapore, ITTIKAR deployed proprietary AI agents to conduct comprehensive due diligence across financial statements, corporate governance, real estate, tax, workforce, and commercial contracts.
Hundreds of documents were analysed with a level of speed, depth, and consistency that materially enhanced decision-making and execution efficiency. The Caruso transaction serves as a proof of concept for ITTIKAR's model, demonstrating how AI-native architecture can meaningfully augment traditional merchant banking capabilities in complex, cross-border acquisitions.
Leadership Commentary
Hussam Otaibi, Founder of Mondevo Group, commented: "Caruso embodies everything MondeVita stands for: authentic heritage, world-class craftsmanship, and a strong national identity with global resonance. What distinguishes this transaction is ITTIKAR's role - from due diligence through execution, our AI-native capabilities enabled a level of analytical depth and speed that would not have been achievable through conventional approaches. This represents the future of dealmaking for family offices."
Fabio Brambilla, Co-Founder and Chief Executive Officer of Mondevo Group, added: "Caruso is precisely the type of business MondeVita was created to steward - a company where tradition, skilled craftsmanship, and brand identity converge into a first-class luxury product. The opportunity and ability to deploy ITTIKAR's AI-native insight across the entire process, shaped both our conviction and the structure of this transaction. We now look forward to working alongside Marco Angeloni and his team in unlocking Caruso's full potential, whilst continuing to build MondeVita's luxury and lifestyle portfolio."
Fabio Brambilla will serve as Chairman of Caruso and MondeVita. Marco Angeloni is confirmed as Chief Executive Officer and will become a minority shareholder, underscoring long-term alignment. The existing management team and Creative Director Max Kibardin remain in place. MondeVita's mandate extends beyond this acquisition. The division is positioned to build a portfolio of exceptional heritage brands across luxury goods, premium beverages, hospitality, and wellness - sectors that remain traditionally fragmented and rich with opportunity, where long-term ownership, shared capabilities, and operational excellence can generate durable value.
About MondeVita
MondeVita is the lifestyle and luxury division of Mondevo Group, focused on acquiring, developing, and elevating heritage brands across luxury goods, premium beverages, hospitality, and wellness. The acquisition of Caruso represents MondeVita's first major investment.
About ITTIKAR
ITTIKAR, headquartered in Abu Dhabi Global Market, is the world's first AInative merchant bank built exclusively for family offices. Developed by Mondevo Tech, ITTIKAR deploys one dedicated AI agent per family office, delivering AI-enhanced deal origination, due diligence, transaction advisory, and portfolio monitoring.
About Raffaele Caruso S.p.A.
Founded in 1964, Raffaele Caruso S.p.A. is an Italian high-end sartorial manufacturer headquartered in Soragna, in Italy's Parma province. The company serves leading global fashion houses and develops the Caruso brand, defined by its philosophy of Playful Elegance. With more than 450 employees, Caruso combines artisanal excellence with industrial scale, and a strong brand identity.
About Mondevo Group
Mondevo Group is a multi-divisional holding company headquartered in Abu Dhabi, operating at the intersection of technology, investment, and lifestyle. The group's divisions span wealth management, venture capital, luxury and lifestyle, and foundational technology platforms. Mondevo's mission is to harness AI-native capabilities and a global network of ultra-high-net-worth families to build enduring businesses across sectors with high barriers to entry and strong long-term growth potential.
Contact: Investor Relations | ir@mondevogroup.com
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