The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The private equity firm managed by Quadrivio & Pambianco is investing in the Italian fashion label alongside former Gucci CEO Patrizio di Marco. Brothers Giuliano and Giordano Calza, who founded the brand in 2015, will retain a “significant” stake in the company, according to a statement.
Despite disruptions caused by the pandemic, GCDS continued to grow this year, hitting a turnover of €20 million, according to the company. Asia is a particularly strong market for the brand and the new capital will be used to bolster its omni-channel distribution in the region and in the American market.
GCDS is Made In Italy’s third investment in the fashion sector. Sustainability-focused label 120% lino and accessories brand Rosantica already sit within the firm’s portfolio. It expects to complete another fashion investment before the end of the year.
The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount.
Fashion’s presence at Milan Design Week grew even bigger this year. Savvy activations by brands including Hermès, Gucci, Bottega Veneta, Loewe and Prada showed how Salone has become a ‘critical petri dish for dalliances between design and fashion,’ Dan Thawley reports.
The Hood By Air co-founder’s ready-to-wear capsule for the Paris-based perfume and fashion house will be timed to coincide with the Met Gala in New York.
Revenues fell on a reported basis, confirming sector-wide fears that luxury demand would continue to slow.