According to sources, Change Capital Partners, which owns Jil Sander, has received at least one nonbinding offer of interest in the fashion brand from “Chinese investors.” The identity of the investors could not be learned.
As reported, Change Capital, which acquired the label from Prada SpA for an undisclosed sum in February 2006, is said to be considering exiting its investment — having grown tired of waiting for Jil Sander’s bottom line to match its critical acclaim — and has been sounding out the market regarding potential interest.
With an offer on the table, the London-based private equity fund, which is backed by the Halley family and led by former Carrefour and Marks & Spencer and current Vodafone and Société Générale board member Luc Vandevelde, now will decide if it wants to deal, sources said.
It is unclear whether the said bid for Jil Sander is close to Change Capital’s alleged valuation of around 200 million euros, or $311.6 million at current exchange, to 220 million euros, or $342.8 million, and industry experts have suggested that a figure closer to 150 million euros, or $233.7 million, would be more reasonable, given the current economic climate.
A spokesman for Change Capital declined to comment on the speculation Thursday.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
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@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty