Calzedonia Holding S.P.A. and shareholders of Calin S.A. acquired 51% stake in Calin S.A. from Elve S.A. for €11.5 million.

Elve SA is a Greece-based clothing company engaged in the design, production and retail of designer clothes. The Company’s product range mainly consists of women's clothing and includes the brands Arte Maxima, MyWay, OKS and Carisma. Its clothing range is sold through both Company-owned stores and through franchise stores. The Company’s subsidiaries are: Lito SA that specializes in baby wear; Harmony Cruises, which specializes in the travel industry, and Elve Bulgaria, which is also active in the clothing sector. The Company has an international sales network that includes England, France, Canada, Italy, Ireland, Ukraine, Russia, and Cyprus. In October 2013, the Company merged by absorption of its wholly owned subsidiary, ECOJOULE SOLAR SA. The Company wholly owns Company Accumulation Solar Energy SA, which features photovoltaic power stations.