After shutting down some factories aiming at returning to profit as soon as possible, the Italian brand Bruno Magli might soon be sold for 50m euro to South Korean investors.

The Italian luxury leather-wear house founded in 1936 and distributed in 31 countries worldwide has been reporting negative results for the past five years.

Because of debt accumulation and output and retail slowing down, the Italian brand might soon be sold to a South Korean investment consortium including E-land e CDIB Capital. E-Land is one of Asia's largest apparel and accessories retailers with over 10.000 stores.

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