Ciesse Piumini's parent company, Sport Fashion Service, has been acquired by Mittel, an Italian investment bank, which now owns 90 percent of the Italian down clothing specialist. Ciesse, which was the property of Fila for a while, was a direct competitor of Moncler in its early days, but it didn't follow its ascent into the luxury segment of the market. Mittel is getting involved in the outerwear segment 11 years after exiting Moncler. The transaction between Mittel and Sport Fashion Service is valued at €11.3 million. Alongside the transaction, Fabio Primerano has been appointed executive president of Ciesse Piumini.