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20 May 2022

MVC Group shareholders’ meeting approves 2021 financial statements and reappoints directors and statutory auditors

Double-digit growth over 2020 confirmed. Outdoor added to responsibilities of CEO Alessio Cremonese. Steve Smith to assume responsibility for cycling business and Gioia Cremonese for ESG issues.“An extraordinary year, during which we successfully managed an extremely complex and volatile environment that continued to be significantly affected by the COVID-19 pandemic. Throughout 2021, all the brands [Sportful, Castelli, and Karpos — Ed.] demonstrated extremely strong growth. And after a 2020 impacted by the cancellation of many events, even our custom business — which outfits both professional and amateur cycling teams — grew by almost 50%”. Alessio Cremonese, MVC Group

“We can only be satisfied with the results achieved in the past year. We are now focused and determined to capitalize on all the growth and strategic opportunities that MVC Group can realize.” Massimiliano Monti, Fondo Equinox

Fonzaso, May 20, 2022

The Board of Directors of Manifattura Valcismon S.p.A. has examined and approved the consolidated financial statements for the year ended December 31, 2021. Double-digit growth in turnover was confirmed: +41.9%, to 134.2 million euros, with EBITDA at 22.5% and net profit of 12.1 million euros (-3.9%). Net debt improved markedly, decreasing from -15.8 to -4.6 million euros, due to the group’s strong cash generation.

The Manifattura Valcismon S.p.A. shareholders’ meeting also approved the Board of Directors, reappointing seven members: Alberto Cremonese (president), Maurizio Cossalter (Equinox – vice president), Gioia Cremonese, Dario Cremonese, Steve Smith, Massimiliano Monti (Equinox), Alessio Cremonese (CEO).

Responsibility for the outdoor business (Karpos brand) passes to Alessio Cremonese, and responsibility for the cycling business (both Sportful and Castelli) to Steve Smith. Alberto Cremonese retains responsibility for DTC and information technology. Confirming the importance placed on sustainability issues, specific responsibility for strategic ESG matters has been assigned to Gioia Cremonese.

The meeting also reappointed the Board of Statutory Auditors, composed of Claudia Costanza (president), Ruggero Paolo Ortica (statutory auditor), Gaetano Paccagnan (statutory auditor), and PricewaterhouseCoopers as independent auditing firm.

Giordano Cremonese was reconfirmed as honorary president of MVC Group S.p.A.


Manifattura Valcismon was founded in 1946 as a spinning mill for wool at the foot of the Dolomiti Bellunesi. Today, it is the holding company of the MVC Group and a leading producer of technical clothing for cycling and outdoor sports — hiking, mountaineering, climbing, ski mountaineering, and cross-country skiing — with the Sportful, Castelli, and Karpos brands. Established in 1946 by the Cremonese family and still led today by the third generation, MVC has outfitted champions and enthusiasts of cycling, cross-country skiing, mountaineering and much more, delivering innovation and quality for more than 75 years. In 2019 MVC brought in external capital via the Equinox fund, which acquired a minority share (40%). Today MVC Group operates in 75 countries worldwide with six subsidiaries and more than 250 employees.


Press Office
MVC Group - Sportful | Castelli | Karpos
Stefania Gatta 

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