NEW YORK — PVH Corp. has become a minority shareholder in the parent company of the Karl Lagerfeld brand. Terms of the transaction weren’t disclosed.
The investment will enable PVH to benefit from the growth of Lagerfeld and includes the right of first offer to license the brand for North America. The brand has been primarily focused on Europe and Asia.
Lagerfeld was part of the Tommy Hilfiger Group until PVH acquired Hilfiger in 2010, at which time it was spun off to the group’s former shareholders. Other investors in Lagerfeld include Apax Funds, the Chou Group, Tommy Hilfiger himself and Fred Gehring, chief executive officer of Tommy Hilfiger.
“We are excited to have PVH as a shareholder,” said Pier Paolo Righi, president of Karl Lagerfeld B.V. “We have ambitious plans for the business and have embarked on an aggressive growth strategy, opening a new store every three weeks over the last six months. We believe PVH’s strong track record in supporting the growth opportunity of global designer lifestyle brands will be a big asset.”
Last month, Lagerfeld opened his largest European store on Regent Street in London. The 2,700-square-foot Karl Lagerfeld London flagship is the 17th store to open since the brand’s rollout began 12 months ago. The same month, the designer launched a new signature fragrance masterbrand. The fragrances will be launched worldwide through September. The fragrance push is a key part of the Karl Lagerfeld brand strategy to become a global fashion and lifestyle business, Righi told WWD last month.
Lagerfeld also revealed plans last month to open a 270-room signature hotel in Macau, which Righi said was an “important milestone in the development of our brand and business globally, and specifically in Greater China,” where Lagerfeld now counts five stores.
Apax recently repositioned the brand and its rock ’n’ roll-infused collections in the growing masstige and contemporary price zones.
A room full of toiles at the haute couture atelier in the Dior exhibition at Les Arts Décoratifs, open in Paris since July 5. This is just one of three major exhibitions that have been timed to coincide with the house's 70th anniversary. See the rest of the exhibits, plus read WWD's look into the iconic brand's history. Link in bio. #wwdfashion (📷: @dominiquemaitre)
For spring, Pamplemousse's Danica Zheng presented her signature slip dresses attached to a white T-shirt along with floral windbreakers, off-the-shoulder cotton blouses and more. For more highlights from the New York trade shows, go to WWD.com. #wwdfashion
The Green Carpet Fashion Awards closed out Milan Fashion Week yesterday. The fashion industry flocked to the event, showing its efforts to support and spread the message of sustainability. Supermodel Gisele Bündchen said "if each one of us took at least one step is this direction, there is no saying how much could be done." #wwdeye #wwdfashion #mfw (📷: Lodovico Colli di Felizzano)
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)