MILAN — The Della Valles may be about to add to their fortune.Marcolin SpA — in which Tod’s chief Diego Della Valle and his brother Andrea hold a 40.6 percent stake — said Monday it is negotiating a potential sale of a majority shareholding to private equity firm Pai Partners. The discussions are in an “advanced, but not yet defined, stage,” the Italian eyewear maker said. The deal could be worth about 300 million euros, or $391 million at current exchange.The development sent Marcolin shares up 6.7 percent on the Milan Stock Exchange Monday to 4.85 euros, or $6.32.Sources in Milan said if a deal does take place, Pai would launch a takeover bid to delist Marcolin, which produces and distributes eyewear collections for brands including Balenciaga, Dsquared2, Tom Ford, Diesel, Roberto Cavalli and Swarovski, as well as house brands Marcolin and Web Eyewear. The Della Valles acquired their stake in the company in 2004 through their holdings DDV Partecipazioni Srl and ADV Partecipazioni Srl, joining the board. Diego Della Valle further committed to the company by inking licensing agreements in 2008 for the production and distribution of his Tod’s and Hogan eyewear collections. In addition to the Marcolin family, with a 30.58 percent stake, other shareholders include Diesel chief Renzo Rosso, with a 2 percent holding, and high-profile Italian entrepreneur Luigi Abete, who owns 10 percent. While rivals Luxottica and Safilo have succeeded in investing in distribution with their own retail chains, Marcolin is still mainly a production firm. A new owner, said a source here, may want to look into exploring opening retail stores for Marcolin brands. In 2009, Paris-based Pai Partners walked away from negotiations to buy a stake in Safilo, which was then sold to the Dutch investment company Hal Holding NV. Last year, Pai cashed in on a deal to sell a 69.3 percent majority holding (with Fincoin) in Italy’s largest clothing retailer, Gruppo Coin SpA, to London-based private equity firm BC Partners for 644.5 million euros, or $922.6 million. Hailing from Benetton Group and Nordica, current Marcolin chief executive officer Giovanni Zoppas was previously chief financial officer and ceo of Coin Group, and may have been a link with Pai Partners. Marcolin celebrated its 50th anniversary last year. The company was founded in 1961 by Giovanni Marcolin Coffen as Fabbrica Artigiana in Cadore, the eyewear production district in Italy’s Veneto region, and became Marcolin Occhiali Doublé in 1964. The firm went public on the Italian Stock Exchange in 1999. The founder remains chairman of the group, flanked by his twin sons, Maurizio and Cirillo Marcolin. Hurt by the financial crisis in Europe, Marcolin’s first-half net profits dropped 20.5 percent to 12.6 million euros, or $16.4 million. Revenues — hit by a 15 percent decline in sales in Europe, the group’s largest market, and by the expiration of the Ferrari and John Galliano licenses — decreased 2.7 percent to 121.5 million euros, or $157.7 million. Dollar amounts have been converted at average exchange rates for the periods to which they refer.The first half saw an improvement in the company’s debt situation, with net debt down to 3.8 million euros, or $4.9 million, compared with 5.7 million euros, or $7.4 million, a year ago.
“I design by visualization. I see things, and most of the time they’re not practical to actually make, and what I’ve found here, it’s like anything’s possible. This is the first time that I’ve made a sole unit in two months. That process usually would take six, so here’s a difference,” said @virgilabloh of the first sneaker sample he created for @louisvuitton, pictured here. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion (📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)