LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
With a new CEO and strategic plan, the original ‘designer denim’ label is serious about making a comeback. But can it modernise its approach while staying true to its history?
Massimo Piombini plans to close stores, raise prices and expand in sneakers to revamp the denim brand.
The announcement follows artistic director Nicola Formichetti’s decision to depart the lifestyle brand that accounts for the majority of revenue at Only The Brave, founder Renzo Rosso’s luxury group.
Renzo Rosso's Only The Brave has acquired a majority stake in Brazilian accessories brand Paula Cademartori.
ADVERTISEMENT
ADVERTISEMENT
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.