Milan-based private equity firm Progressio SGR has sold its majority stake in Save the Duck to Reinold Geiger and André Hoffmann, respectively chairman and CEO of L’Occitane International. Both Geiger and Hoffmann, who already held a minority stake in the down-free outerwear specialist, are investing in their personal capacity through Société d’Investissements Cime and Anatra Investments Limited. The two entrepreneur-managers will hold a total of 80 percent of Save the Duck’s capital while the remaining 20 percent will remain in the hands of Nicolas Bargi, the founder and CEO of the brand, who is still at the helm of the business. Save the Duck was created in 2012 to offer a range of 100 percent animal-free and cruelty-free quilted jackets. In July 2019, Save the Duck was the first fashion company in Italy to obtain B Corp certification. The brand is present in 42 countries. Export accounts for 60 percent of its sales, and its leading export markets are Germany and the U.S. Meanwhile, sales in the Asia-Pacific (APAC) region are rising, primarily driven by the Japanese market.