ROMANO D'EZZELINO, Italy (BRAIN) — The parent company of travel bag maker Scicon has received a capital investment that will bolster growth worldwide and a new 4,000-square-meter (43,000-square-foot) office and manufacturing space in Northern Italy.
The new facility will be shared with Scicon's sister brand, Ftech custom cycling clothing.
Scicon is a brand of ASG International SRL, a joint venture of Heinrich Dannhauser and Massimo Fantin, and the ASG Group's European subsidiary. ASG Group received a capital investment firm South African Enterprise Development Proprietary Limited, which the company said will provide "greater support to fund the aggressive growth strategy for the Scicon brand."
"With the arrival of SAED, ASG intends to capitalize on the group's strong position in South Africa and to accelerate international expansion and growth through a newly established European headquarter in Italy, in a sector that provides exceptional growth opportunities," said Dannhauser, ASG Group founder and ASG international CEO.
Fantin, who is ASG International's co-founder and CEO, said, "We are pleased to welcome SAED, a highly reputable financial partner, with whom we share a common vision to grow our brands. ASG International benefits from the infusion through SAED in the group and enables our division to further invest in infrastructure, human resources, R&D and marketing. We will continue to develop innovative products and boost the promotion of our leading brand and products."
