Richemont to buy Net-a-Porter, PVH acquires Hilfiger, Prada’s maltreatment, Liberty bid, GenY luxe life

Net-a-porter features Utility Chic | Source: Net-a-Porter

Net-a-Porter features Utility Chic | Source: Net-a-Porter

Net-a-Porter is being acquired for up to £350m by Richemont (Telegraph)
“The deal, expected to be completed this week, will see founder Natalie Massenet, a former fashion journalist, become at least £50m richer as Richemont acquires the remaining 70pc of the company it doesn’t already own.”

Phillips-Van Heusen Acquires Hilfiger for $3 Billion (NY Times)
Phillips-Van Heusen, the clothing conglomerate that owns Calvin Klein, announced Monday that it would buy Tommy Hilfiger, once a leading purveyor of colorful preppy clothing, for about 2.2 billion euros, or $3 billion.

Prada accused of maltreatment (Japan Times)
“A senior manager at Prada Japan has filed a legal complaint against the Italian fashion label, accusing the company of harassment and discrimination based on appearance and alleging it maltreated other employees in the past.”

Liberty back in fashion as store weighs up bid approaches (FT)
Liberty, the listed upmarket London retailer, is in take-over talks with Marco Capello, the former managing director of Merrill Lynch Global Private Equity , in a deal that could value the group at about £40m.”

Gen Y Will End Luxury Drought — In ’20 (Media Post)
“The last two years have permanently altered America’s relationship with the luxe life, says Pamela Danziger… While Gen Y definitely has champagne tastes, they won’t be able to back it up with real bucks for another decade or so.”