Today the FT is reporting that Blackstone is the clear leader in the race for the Versace minority stake – which is surprising on the surface, given that the private equity firm has never made any forays into high fashion, and private equity as a sector has had mixed results in the sector, sic Permira and Valentino, and TPG and Bally. So why the mutual attraction? I was speculating with a colleague recently, and she mentioned what is probably the magic word: hotels. Aka the Next Big Brand extension of luxury. Read more
The Missoni family. Getty Images
As the search for Vittorio Missoni’s plane continues, four days after it was originally reported missing, the depth of public identification with – and affection for – the Missoni family is being revealed (pictured from left are founder Ottavio; daughter and designer Angela; founder and Ottavio’s wife, Rosita; son and CEO Vittorio; and son and creative director Luca).
Here, for example, are some of the Twitter posts in response to #findvittoriomissoni, which Vittorio Missoni’s son, Ottavio Jr, posted when the plane disappeared: Read more
So it all came true, and PPR did, indeed, buy Italian men’s wear luxury brand Brioni. So far, so rumoured. But what does it mean? Seems to me there are two main implications to the deal. Read more
Though in many ways the brands mentioned in the headline – Hermès and Donald Trump – are what one would think of (OK, I would think of) as polar opposites, the former being famous for its discrete elegance, the latter being famous for its in-your-face 24-carat bluster, they are nevertheless setting up house together in … the Philippines. Below is a rendering of their love nest.
The relationship was brokered by Robbie Antonio, managing director of Century Properties, and the man behind what is increasingly looking like a mini fashion-city in Manila: high-rise condos with public areas (lobbies, libraries, pools) and apartments decorated by Versace, Missoni (both Italian labels) and now Hermès. He already had a licence deal with Trump on the table to build Trump Tower Manila (the building is owned and operated by Century), which will become the most luxurious, expensive, property in the city, and thought, he said, it would be great to have “two very formidable brands involved in the most important single tower.” He approached Hermès, which had recently launched a furniture line, and the French brand agreed to create the building’s shared spaces. Read more
Designers – especially, it seems, Italian designers – are busily embracing all sorts of aesthetic product opportunities beyond the runway. Both Missoni and Versace have teamed up with Century Properties in Manila to create the interiors of new high-rise developments, and Fendi just completed a boat with Princess Yachts. We have trend, people.
According to the NY Post, Aerin Lauder, the current family standard bearer of the Lauder cosmetic empire (so much so that she actually was the face of the relaunch of her grandmother Estee’s favourite fragrance, Youth Dew), as well as an SVP, is Leaving the Company to Start her Own Brand. This is a big deal. Read more