Chances are it’s lettering based on Bosco Silhouette. This design by Alfred R. Bosco was added to Photo-Lettering’s library sometime before 1965 (and likely considerably earlier). C, E, L, N are a match. The H is probably custom, as Silhouette’s H looks much like an X. With some stretching and adding counters/notches to D, R, S, you’d get there.
Bosco was born in Naples, Italy. The design echoes elements found in Italian Art Deco lettering.