Despite all the lip service paid to potential of the contemporary market – despite J Crew’s expansion into Europe and Asia, and Tory Burch’s $2bn valuation; despite all the private equity interest in the sector, which has seen KKR buy Sandro and Maje, and General Atlantic put its money in Burch as well as TPG and LGP lead the charge by taking J Crew private – I find it striking that no one has yet attempted to put a bunch of these together and create a group, as are so ubiquitous in luxury, to leverage synergies and create a power structure.
Luxury’s linguistic Dada has reached a new high (or low, depending on your view point).
When explaining TA Associates acquisiton of a majority stake in Dutch LLC, the parent company of contemporary brands such as Equipment and Joie, Jennifer Mulloy, TA’s managing director, said:
The new contemporary luxury segment has become an incredibly important revenue driver for both premium apparel companies and for retailers focused on this space.
I’ll say. Or rather, I’ll say “contemporary luxury” is new. In fact, I’ve never heard the term before. Probably for good reason. Read more
The news that LA-based private equity firm Leonard Green & Partners may take a 25% stake in Topshop and Topman has the high street all aflutter, largely because of the billion plus valuations it puts on the brands. However, it makes sense for a lot of reasons, and provides some fun fodder for sepculation. Let’s plunge in! Read more