Daily Digest

30 August, 2013

LVMH-Backed L Capital Raises $950 Million for Asian PE Fund

Louis Vuitton Vienna Store | Source: Louis Vuitton

“L Capital Asia, which is backed by LVMH Moët Hennessy Louis Vuitton, Groupe Arnault as well as the investment company of France’s richest man and Malaysia’s Corp Bhd., began fundraising in March with an initial target of $800 million. Instead, L Capital reached the $950 million cap it set in less than six months, thanks to support from sovereign wealth funds, pension funds and family offices from North America, Europe and Asia.”

A Fashion for Cashing Out

Agent Provocateur | Source: Courier

“It’s referred to as the ‘House of Fraser Effect’; the moment a fashion or clothing brand begins a downward slide after appearing in one of middle England’s favourite department stores. The pejorative phrase hints at a well-trodden final resting place for the kind of brands that were once rich in character only to give it all up in a scramble for sales.”

The Visionary: Calvin Klein

Calvin Klein by Steven Klein | Source: Interview Magazine

“Everyone in Calvin’s world was gorgeous. Sexy. Sensual. Beautiful bodies. Silky skin. Perfection. Calvin’s clothing seemed to be all about the sensation of touch and the provocation of getting naked, and the imagery that he used to communicate that changed the worlds of fashion and advertising.”

The Iconclast: Lauren Hutton

Lauren Hutton by Craig McDean | Source: Interview Magazine

“Hutton’s success—and where it led—changed the modeling industry. In 1973, she landed what became a landmark contract with Revlon, and her status as the first $1 million-a-year girl had the collateral effect of increasing pay for models across the board, in some ways, giving rise to the more complex business infrastructure that surrounds modeling today.”