The Level Group Acquires Fashion Platform Tomorrow as Founder Exits

Why It Matters

The transaction marks a significant consolidation in fashion wholesale, providing capital and expertise to revive a key distribution platform. It also signals a broader industry shift toward direct‑to‑consumer models under stronger e‑commerce operators.

Key Takeaways

• Founder Stefano Martinetto permanently leaves Tomorrow
• Three Hills Capital Partners sells controlling stake
• Level Group acquires via Progetto 11
• Platform generated €250 million revenue in 2025
• Focus shifts to direct‑to‑consumer expansion

Pulse Analysis

The fashion wholesale sector has faced mounting pressure from inventory imbalances, shifting consumer preferences, and the rise of digital marketplaces. Tomorrow, once a cornerstone of European and U.S. brand distribution, struggled with high‑profile disputes involving Martine Rose and Coperni, exposing vulnerabilities in its traditional wholesale model. By transferring ownership to The Level Group, the platform gains access to a partner with deep e‑commerce infrastructure and a proven track record managing luxury brands, positioning it to navigate these market headwinds.

Progetto 11, the vehicle through which Level Group will run Tomorrow, promises fresh capital and operational support at a critical juncture as the next fashion collections approach. The strategic focus will likely pivot toward expanding direct‑to‑consumer (DTC) channels, leveraging Tomorrow’s existing showroom network and talent‑scouting capabilities. This aligns with broader industry trends where brands seek higher margins and closer customer relationships by bypassing intermediaries, a shift that Level Group is well‑equipped to facilitate given its success with brands like Scarosso and La DoubleJ.

For investors and brand partners, the deal signals confidence in the long‑term viability of integrated fashion platforms that combine wholesale reach with DTC agility. The Level Group’s involvement could accelerate technology upgrades, data‑driven merchandising, and cross‑border logistics, enhancing the value proposition for brands such as Off‑White and Charles Jeffrey Loverboy. Ultimately, the acquisition may set a precedent for further consolidation, as fragmented distributors seek scale and expertise to thrive in an increasingly digital and consumer‑centric market.

Deal Summary

The Level Group, a global e‑commerce operator, is acquiring the fashion distribution platform Tomorrow Ltd, as founder and minority shareholder Stefano Martinetto exits and Three Hills Capital Partners sells its controlling stake. The transaction, announced on March 19 2026, will bring new capital and operational support to stabilise and grow the platform.