Gap’s founding family has acquired a stake in equestrian apparel and accessories firm Ariat International Inc.
The Fisher family, along with Ariat’s management team, has purchased the firm for an undisclosed amount from private equity firms LNK Partners and Brentwood Associates.
Beth Cross, chief executive officer and cofounder of Union City, Calif.-based Ariat, said, “We are [pleased] to be expanding our partnership with the Fisher family, who share our passion for the company and the Ariat brand. Their deep experience as business leaders will provide a strong strategic foundation for the company’s long-term growth opportunities.”
John Fisher will serve on the Ariat board. He said the family had been partners with the management team at Ariat for almost 20 years.
The company reportedly does $300 million in annual revenue and counts Georgina Bloomberg, the daughter of New York City’s Mayor Michael Bloomberg, as a fan of the firm’s riding boots and breeches.
LNK Partners and Brentwood acquired their investment stake in Ariat in November 2006. LNK had said at the time it invested $61 million to acquire its minority stake.
LNK’s portfolio includes PVH Corp.’s acquisition of Tommy Hilfiger, Au Bon Pain and Natural Food Holdings. LNK partners include: David Landau, who, when he was at Apax, had invested in Spyder Active Sports and helped PVH acquire Calvin Klein; Bruce Klatsky, former chairman and ceo of PVH, and Phil Marineau, former president and ceo of Levi Strauss & Co.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion