A month after the company announced a deal to buy rival Alitalium from the European Union, the former Italian shoe maker is having to apologize to its customers.
On Monday, Alitalian CEO Gianluca Bazzi said the company’s decision to sell the iconic brand “has been the right one,” but he also noted that it “was never an easy decision to make.”
“This decision was not easy, but it was a decision we made with the best interests of the company at heart,” Bazzu told reporters in Milan.
“We are grateful to our loyal customers for their support and hope that this will continue to be a positive example for all our people.”
Alitalia CEO Gianluigi Bazzilato said on Monday that he was “not the one who came up with the idea” to sell Alitalians shoes.
The deal was approved by Italian regulators, but Italian Finance Minister Angelino Alfano said on Tuesday that he could not guarantee that the deal would go through.
Alitalian had previously announced plans to sell its shoe business to an American company in 2017.
Alibac said it would sell about 60 percent of its stake in Alitalía to a private investment group led by former US Treasury Secretary Steven Mnuchin.
The company has said the deal is expected to bring $3 billion in new investments.