Daily Archives: January 26, 2012

A snowman wearing a CNN hat at Davos

A snowman at Davos yesterday. AFP/Getty Images

Reading the FT’s live blog from Davos as I sit warm in my hotel room in Paris (it is one of life’s cosmic jokes that Davos always coincides with that ultimate in 1 per cent consumer indulgence, couture), I was struck that among the debates on income inequality, critiques of Angela Merkel’s speech, and the growing concerns of the private equity folks about the end of their special tax status, one of the few topics everyone agreed on was the importance of hats.

Indeed, before the repercussions of George Soros’s lunchtime talk were analysed, his special hat was noted, and compared with the bigger furry hat of FT columnist Martin Wolf. Personally, however, I think both pale in comparison to the enormous furry gloves worn by Sir Martin Sorrell of WPP. Read more

Nathalie Rykiel (left) with designer April Crichton at Sonia Rykiel show. AFP/Getty Images

Nathalie Rykiel (left) with designer April Crichton at Sonia Rykiel show. AFP/Getty Images

Fung Brands Ltd just announced they were in exclusive negotiations to buy 80 per cent of French fashion house Sonia Rykiel, for an undisclosed price. Interesting.

This will be Fung Brands‘ first ready-to-wear acquisition since it was formed last year with Jean-Marc Loubier, latterly of LVMH and Celine, as chief executive. They’ve been moving pretty quickly, having already also bought French shoe brand Robert Clergerie, and Belgian luxury handbag house Delvaux. (Fung Brands is the subsidiary of Fung Capital, the private investment arm of the Fung family, which also owns the Asian manufacturing powerhouse Li & Fung).

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