Selfridges Group buys Ogilvy (The Province)
“Toronto’s billionaire Weston family has bought Montreal’s prestigious Ogilvy department store, adding to its stable of high-end retail offerings after the purchase of Dutch luxury institution de Bijenkorf eight months ago… The back-room deal comes as a bit of a surprise because the previous ownership group had held Ogilvy for barely a year.”
Aquascutum secures financial lifeline (Guardian)
“The new owners of Aquascutum, whose trenchcoats were once the uniform of Hollywood stars and British politicians, have secured a financial lifeline for the heavily loss-making fashion label. The brand, which was acquired by Jaeger owner Harold Tillman nearly two years ago, is in the final negotiations for a new £8m bank loan.”
L Capital to pick up 15% more stake in Genesis Luxury Fashion (The Economic Times)
"L Capital Asia, the private equity arm of the world's largest luxury conglomerateLVMH Group and Groupe Arnault, is betting big on India. A little less than a week after it announced its acquisition of a 25.5% stake in Genesis Luxury Fashion, it is in talks to pick up an additional 14.5% stake in the company."
Burberry joins rush to enter Hong Kong retail scene (Independent)
"The shopping landscape in Hong Kong is about to be expanded once again with news that the British luxury brand Burberry plans to open its Asian flagship store in the city... It will be the British retail giant's largest store in the region and the second largest in the world, behind its 57th Street, New York outlet."
At the Met, McQueen’s Final Showstopper (IHT)
"... While he was revered in fashion, and his runway shows were among the most closely watched, almost no one could have imagined that, as the subject of a museum exhibition, Mr. McQueen would prove to be almost as popular as Pablo Picasso and Vincent van Gogh."