Michael Kors Deal for Versace for 2 Billion Euros? Michael Kors Holdings Ltd. is adding some Italian flair. a deal that is expected to close this week. The Versace family will maintain a role in the company, although it could not immediately be learned what will be the exact nature of their involvement.
The stock market didn’t react well to reports of an impending deal, with Kors shares trading at $66.11 at 11 a.m., down 9 percent.
Versace is run by Donatella Versace, creative director, and her brother Santo Versace, chairman, who own 20 percent and 30 percent of the firm, respectively. According to sources, the private equity firm Blackstone, which owns 20 percent of Versace, is planning to sell its stake in the deal.The remainder of the company is owned by Allegra Versace Beck, Donatella’s daughter and the niece of the house’s late founder, Gianni Versace.
Sidney Toledano, chairman and chief executive officer of LVMH Fashion Group, is spearheading the project and has already selected and signed on a designer to lead it: Guillaume Henry.
In 1996, Giorgio Armani was one of the biggest and most thrusting brand names in fashion and the man himself was among the richest people in Italy.
Expanding its reach into the realm of watchmaking, Chanel has bought a minority stake in Montres Journe, the French luxury house said on Monday.
L’Oréal Paris is gearing up to stage its second fashion-beauty runway show, With a floating catwalk near the Musée d’Orsay, the display on Sept. 30 at 2 p.m. at the Port de Solférino is expected to attract even more eyeballs than the high-profile show staged on the Avenue des Champs-Élysées last year.
Boucheron and the Monnaie de Paris have teamed to make a series of limited-edition coins, including a 1-kilo (35.3-oz.) pure gold coin in the shape of an emerald-cut stone, with references to the high jewelry house including the Place Vendôme, ivy vines and a diamond encrusted leaf.
Could you imagine Virgil Abloh rappers’ friends fighting at a LVMH Paris Fashion Show? This is the story, a star-studded party ended in dramatic fashion when Cardi B and Nicki Minaj nearly came to blows at the Harper’s Bazaar Icon bash in New York City last Friday.
Burberry said early on Thursday the no-fur policy will apply to Tisci’s debut collection for Burberry later this month, and the company will phase out existing real fur products.
Kering is reinforcing its corporate team in Greater China in order to adapt to the fast-changing business environment in this market, which has been continuously growing in importance for the luxury industry since Gucci opened its first store in China in 1997. This new management set-up will strengthen the existing corporate structure specifically dedicated to supporting the long-term development of Kering’s luxury Houses in Greater China.
On Sunday, Céline’s designer Hedi Slimane offered followers clues about the world he is fashioning for the French label on Instagram, revealing a new logo, and some explanations as well.
Fashion Week Stockholm, which has been showcasing some of Sweden’s most interesting brands and designers since 2005, has progressively established itself as one of Northern Europe’s leading fashion events. In part due to their renewed presence during this bi-annual event, fashion houses such as Acne, Tiger of Sweden, Filippa K, Hope, and, more recently, ATP Atelier have gained regional notoriety and brought international attention to the Swedish fashion scene. It has also enabled the so called “Scandinavian aesthetic” – often defined by its minimalism, functionality and simplicity – to be widely popularized and globally recognized.
Contemporary designer brand Hervé Léger, best known for its body-con “bandage” dresses, has a new creative director: Christian Juul Nielsen.
Lanvin has appointed Jean-Philippe Hecquet chief executive officer, Hailing the beginning of a new chapter, Joann Cheng, chairwoman of Fosun Fashion Group and Lanvin, said Hecquet’s “extensive international experience in the luxury fashion industry, his strong entrepreneurship and his proven managerial skills” will be major assets in developing and accelerating Lanvin’s business.
Ruth Finley, who created the Fashion Calendar and was a leading figure in the industry, died Saturday night at Lenox Hill Hospital in New York at age 98.
The Karl Lagerfeld brand has partnered with Los Angeles-based e-tailer Revolve.com for the launch of its clothing capsule designed in collaboration with model-of-the-moment Kaia Gerber.
On September 21, the auction event The Genius of Gianni Versace: A Collection of His Iconic 90s Designs will be conducted by Leslie Hindman Auctioneers and include over 350 vintage Versace items from some of the designer’s most recognized work.
Did Choupette, Karl Lagerfeld’s famous pet cat, turn seven years old unnoticed? As if! The blue-eyed beauty is said to have received thousands of wishes on social media platforms including Instagram, where she counts 112,000 followers and where she shares a bit of advice alongside a photo of herself enjoying a luxurious birthday stretch. “I started my social media career before ‘influencers’ were a thing. Please refrain from using this term with moi,” the caption reads.