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 guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.
As the French luxury group attempts to get back on track, investors, former insiders and industry observers say the group needs a far more drastic overhaul than it has planned, reports Bloomberg.
After growing the brand’s annual sales to nearly €2.5 billion, the star designer has been locked in a thorny contract negotiation with owner LVMH that could lead to his exit, sources say. BoF breaks down what Slimane brought to Celine and what his departure could mean.