Uncertain expectations over Christmas trading amidst mixed retail signals led many institutional investors to take their profit before closing their books at year-end. Meanwhile, the travel retail channel continues to surge and M&A activity remains buoyant, reports Pierre Mallevays of Savigny Partners.
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
PARIS, France — After weeks of exclusive talks, American private equity firm Kohlberg Kravis Roberts & Co. (“KKR”) has formally acquired a 65 percent majority stake in SMCP Group, owner of contemporary French apparel brands Sandro, Maje and Claudie Pierlot. The remaining shares will stay with founders Evelyne Chétrite and Judith Milgrom, along with members of management, Elie Kouby and Frédéric Biousse. Details of the deal were not
Apple Wants To Buy Pinterest Rival, The Fancy (Business Insider) “Apple is in talks to acquire The Fancy, a fast-growing social commerce site backed by cofounders of Twitter and Facebook, Business Insider has learned. The objective: to secure a role for Apple in the growing e-commerce market.” L Capital in talks with top fashion designers to setup LVMH clone in India (Economic Times) “Private equity firm L
A Magical Pilgrim’s Path (IHT) “In the sensible world of New York fashion, Marc Jacobs stands alone on fantasy island. And this season, he played his role as agent provocateur and psychoanalyst of style to the ultimate degree.” LVMH’s PE arm buys 8 pct of Fabindia (Reuters) “L Capital, the private equity arm of LVMH, the world’s biggest luxury goods group, has bought the 8 percent stake held by
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
Fashion Opts for Safety in Paris, Milan (Bloomberg) “Even amid signs that demand for luxury clothing and accessories is returning, makers of the goods will ‘play it safe’ for spring-summer 2011, according to Sue Evans, senior editor of catwalks at fashion forecaster WGSN.” Gucci Unpacks ‘La Dolce Vita‘ (WSJ) “During the consumer-spending slump, aspirational purchases slowed sharply, and