MILAN — Pomellato declined to comment on reports that a number of global luxury companies are eyeing the jewelry brand.According to Italian financial daily Il Sole 24 Ore, French conglomerate PPR, which has frequently been named as a potential buyer, is said to be in pole position to acquire the label, followed by Prada, Swarovski and Renzo Rosso’s Only the Brave. According to Il Sole 24 Ore, Pomellato, which counts the Rabolini family as its main shareholder, followed by the Damiani Group and Pomellato chief executive officer Andrea Morante, is said to have set the price at about 14 to 15 times the company’s earnings before interest, taxes, depreciation and amortization. This indicates that a potential investor would need to shell out between 315 million euros, or $409 million at current exchange, and 338 million euros, or $439 million, to acquire the company.In 2012 Pomellato saw revenues rise 9 percent to 137.7 million euros, or $165 million at average exchange, compared to 2011, and the EBITDA grew to 22.5 million euros, or $27 million, from 20.1 million euros, or $24 million, over the previous year.“We got in touch with Giuseppe Rabolini a year ago and my father [Renzo Rosso] has a very good personal relationship with him, but even if we think highly of the company, considering that we’ve just acquired Marni, we are not currently looking to invest in a new business, especially one that operates outside our core business,” said Only the Brave ceo Stefano Rosso. Representatives from Prada and Swarovski declined comment.Following speculation in October that the company was considering a public listing, Pomellato’s Morante told WWD in January that the Rabolini family was not interested in selling the brand.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. 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