The investment firm Borletti, which owns the Lafarmacia pharmacy chain (Hippocrates Holding) and fashion brands including True Religion, Moose Knuckles, and Twinset, has acquired Italian perfume retailer Pinalli (www.pinalli.it) from private equity firm H.I.G. Capital. Financial terms were not disclosed.
Founded in 1984 in Fiorenzuola d’Arda (Piacenza), Pinalli has steadily expanded its retail footprint and now operates 108 stores specializing in fragrances and beauty products. Today, Pinalli boasts a community of more than one million members enrolled in its loyalty program.
"The partnership with H.I.G. has been instrumental in accelerating Pinalli’s development and executing the ambitious growth plan we designed together, achieving our objectives ahead of the timeline set out in the initial business plan,” said Raffaele Rossetti, CEO of Pinalli.
During its partnership with H.I.G., which began in 2023, Pinalli accelerated the expansion of its store network, increasing the number of locations from 63 to 108, while also scaling up its e-commerce business. In 2025, Pinalli generated EUR 197 million in revenue.
Borletti Group plans to work alongside Pinalli’s existing management to continue expanding its store network across Italy, while further strengthening online sales and enhancing the customer experience.
Raffaele Rossetti, who has served as general manager since 2018, will remain at the helm and lead the company through its next phase of development. Maurizio Borletti, co-founder of the Borletti Group, will serve as president.
