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.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews