The deal announced on Thursday highlights a trend among private equity funds, which after running out of big brands to buy, have locked on to the challenges of the luxury industry’s supply chain and turned to a “buy and build” strategy.Florence was founded in 2020 by VAM Investments, a private equity firm controlled by former Bulgari Chief Executive Francesco Trapani, who will stay on as Florence chairman.

Its current CEO Attila Kiss will also retain his role.With revenues of more than 600 million euros in 2022, Florence group…