MILAN —Kiko Milano is looking for a minority shareholder, according to Mergermarket this week.Citing unnamed sources, the financial news platform said the Italian cosmetics company is set to hire Rothschild as the adviser for the search, and mentioned Apollo, Carlyle, Investindustrial and Peninsula among the funds interested in taking a minority stake in Kiko Milano.Reached on Thursday, the company declined to comment.As reported, Kiko Milano is facing a transition and looking for a capital increase of about 100 million euros to reschedule its debt with creditor banks.The company's total debt is reported to be 200 million euros, with almost half of it owed to the Banca Generali SpA. The rest is owed to a pool of institutions, including the BNP Paribas and UniCredit banks.Founded in 1997 by entrepreneurs Stefano and Antonio Percassi, Kiko’s revenue for 2017 was 610 million euros, up 3 percent on the previous year. The brand operates more than 1,000 doors in 21 countries, including its largest flagship, in Milan, and an e-commerce platform spanning 35 countries.The company's e-tail sites will be enhanced, and in the U.S., where Kiko USA filed for bankruptcy in January, Kiko's e-commerce activity is the primary focus. The company is shutting down nearly all of its 29 brick-and-mortar units and closing its New York headquarters.The reorganization is part of a bigger, global plan that will favor retail expansion in markets experiencing high rates of development, such as Asia, India and the Middle East. The strategy calls for investments of 90 million euros over the next three years.In July, Kiko SpA, parent company of the cosmetic labels Kiko Milano, Madina, Womo and Bullfrog, appointed Cristina Scocchia as its chief executive officer. She formerly served as ceo and president of L’Oréal’s Italian division for four years and helmed the international operations of Procter & Gamble’s cosmetics business in Italy.
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion
@carmeloanthony is upping his fashion game once again, introducing a hat collection with @goorinbros. Called Fresh Greens by Melo x Goorin, the line consists of five unisex models, all of which are made in America from 100 percent wool. Each hat is lined with Anthony’s signature and the inscription “Knowledge of self, wisdom and understanding.” You can purchase the collection line at Goorin’s website as well as three off its stores in San Francisco, New York City and Las Vegas #wwdaccessories
“I am of tradition, but that doesn’t mean I have an old outlook on life,” Hubert de Givenchy told WWD in an interview in 1978. The legendary designer, who died last week at the age of 91, achieved wide success soon after launching his own couture boutique in the early ’50s, but he refused to pine for that time. For the first time since its original publication, read our interview with Givenchy on his awe for Audrey Hepburn and looking forward. Link in bio. #wwdarchives #fbf (📷: Pierre Schermann)
About last night: @alexachung and @supergausa toasted the launch of their capsule collection. “It’s the shape that I love, so rather than amend the last and make the sole crazy or do anything wild, we just did really subtle additions that I think make it look really luxe-y,” said Chung. #wwdfashion (📷: Marc Patrick)
Exclusive: @off____white’s @virgilabloh is launching an exclusive eyewear capsule collection @sunglasshut. The unisex collection, which is made up of three styles, first made its debut on the brand’s fall runway show in Paris. Get all the details on WWD.com – link in bio. #wwdnews #wwdfashion