Oniverse Posts €3.7 Billion in Revenue, Eyes U.S. Expansion

Oniverse, the Verona-based multibrand group behind Calzedonia and Intimissimi, reported 2025 revenues of 3.7 billion euros, up 4.8 percent at current exchange rates from a year earlier, with exports rising to 2.3 billion euros from 2.2 billion euros in 2024.

Chairman Sandro Veronesi, who has led the company since its founding in 1986, said the group invested about 350 million euros in its brands last year and forecast similar annual spending ahead, directed at retail expansion and internationalization.

"The company grew in small steps, but those baby steps brought us here," Veronesi told WWD, marking the group's 40th anniversary.

How large is the retail and production footprint?

As of Dec. 31, 2025, Oniverse operated 5,538 stores, of which 3,650 sit outside Italy, across nearly 60 countries. The group runs 25 production facilities worldwide — in Italy, Sri Lanka, Croatia, Bulgaria, Egypt and Tunisia — employing around 30,000 people.

"We are one of the very few innerwear companies with a vertically integrated structure and our own factories," Veronesi said. "We built and have managed this supply chain for many years. It requires a significant investment in human resources and capital, but it is a major strength compared with our competitors. It gives us speed, flexibility and a different level of quality control."

Why is the U.S. the priority market?

The United States currently generates about 3.9 percent of the group's fashion business, or between 140 million and 150 million euros, almost entirely through retail. Intimissimi operates 63 U.S. stores, a number Veronesi said will increase. Calzedonia, with 30 flagships, could capture share in the fragmented swimwear segment, and Falconeri, with seven stores, fits American tastes, he argued. Antonio Marras opened its first flagship outside Italy in New York's SoHo in 2025.

"The United States is a major priority, but Europe also offers considerable potential," Veronesi said, citing Germany and France as underpenetrated markets where innerwear competitors are not delivering strong results.

What role has diversification played?

Beyond Calzedonia, the portfolio spans Intimissimi, Luman (formerly Intimissimi Uomo), Tezenis, Falconeri, wine retailer Signorvino, bridal brand Atelier Emé, luxury label Antonio Marras and yacht-maker Cantiere del Pardo, acquired in 2023 with its Grand Soleil, Pardo and Van Dutch labels. The company changed its name from Calzedonia Group to Oniverse in 2023 — an anagram of Veronesi chosen through an employee contest.

"Diversification allows you to encounter different experiences that can be useful in sectors you already know," the chairman said. "It helps mitigate risk and allows us to bring experience from newer sectors, such as wine and boating, back into businesses we know better."

Veronesi ruled out new acquisitions in the near term: "Our objective is to strengthen the brands we already have." He acknowledged Marras, acquired as an 80 percent stake in 2022, will remain a niche player but said its business must become more functional and improve performance and sustainability.

On succession, Veronesi said his priority is an orderly generational handover. His sons hold executive roles: Matteo leads Intimissimi and U.S. international markets, Marcello runs Cantiere del Pardo and Federico heads the wine division. He ruled out a stock market listing in the near term, though the group consistently ranked high in Pambianco's "Le Quotabili" study of listing candidates, published until 2024. With flat capex of roughly 350 million euros a year and 1,888 stores outside Europe's core markets, the group's next test is converting U.S. density into share.