MILAN — The state-appointed administrators of IT Holding SpA launched the auction of the Gianfranco Ferré fashion house and of Italian manufacturing firm Ittierre SpA on Wednesday, as sale regulations indicating terms and conditions were published in several newspapers.
Binding offers for Ferré, which should include business plans to continue the company’s activities, must be submitted to administrators Stanislao Chimenti, Andrea Ciccoli and Roberto Spada no later than July 6. The commissioners also are putting up for sale a property that houses a Ferré store in Porto Cervo, the exclusive resort town on Sardinia. Sources said the following are looking at the Ferré dossier: Milan- and Vicenza-based private equity firm Palladio Finanziaria; New York-based merchant banking firm Prodos Capital Management and hedge fund firm Amber Capital Investment Management, also headquartered in New York.
Designer Gianfranco Ferré died June 17, 2007. The Fondazione Gianfranco Ferré, established in 2008 to preserve the designer’s work and managed by Ferré’s cousin and collaborator Rita Airaghi, is working on reorganizing more than 6,000 outfits that are to be exhibited in the fall in a new, dedicated space in Milan.
Nonbinding letters of interest in Ittierre must be submitted to the administrators by Wednesday. A due-diligence period running from June 27 to July 25 will follow. Ittierre produces collections Just Cavalli, C’N’C Costume National, Galliano, Ermanno Ermanno Scervino, GF Ferré and Extè. Binding offers, which also must include proposals on how to preserve the business, are to be submitted no later than Aug. 2.
IT Holding, which has been in government-backed bankruptcy protection since February 2009, also is selling cashmere knitwear brand Malo. Earlier this month, Malo received four bids, following a public auction and a one-month due-diligence investigation. Advised by Mediobanca and Sin&rgetica, the administrators are considering the offers.
A list of bidders is not available. According to sources, the following have expressed interest in Malo: sock and knitwear company Ciocca, founded in 1912 and located near Brescia, Italy, which also controls the Drumohr brand; Enzo D’Addario, who owns one of Italy’s main auto dealers; entrepreneur Michele Prestipino through his firm Partecipazioni e Investimenti, and luxury retailer group Evante.
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)
@Pharrell and his wife Helen Lasichanh were among the stars that came out to celebrate @rimowa’s first pop-up concept shop. The space, which is located on Rodeo Drive in Beverly Hills, draws inspiration from airport luggage carousels and lounge areas – and features the company’s luggage and accessories. If the pop-up is successful it could pave the way for addition temporary shops throughout the world. #wwdfashion (📷: Owen Kolasinski/BFA)
@carineroitfeld celebrated @crfashionbook’s first calendar last night with a dinner party at Spring Place in Manhattan. Photographed by @stevenkleinstudio, the calendar takes on a fitness theme and features @joansmalls, @gigihadid, @danielle_herrington_ – pictured here – and more. “[Carine Roitfeld] wanted me to feel sexy and she wanted me to be myself and feel it out on my own and do what I felt was right,” said Herrington, aka Miss October. #wwdeye
@saintrecords and @virgilabloh last night at @americanexpress’ “A Night With Success Makers” event. “I always bring it back to community because without that I wouldn’t have the courage,” said Knowles when asked how she has gotten where she is now. Read more highlights from their conversation on WWD.com. #wwdeye (📷: @lizdoupnik)
This Just In: Industry sources have told WWD that Anastasia Soare is rumored to be considering selling her beauty business, @anastasiabeverlyhills. According to those sources, Soare has tapped investment bank Imperial Capital to explore sale options for her eponymous beauty brand –– and with at least $340 million in net sales, this would be a big deal. Put in context of other recent transactions for makeup companies, Soare’s price tag could be in the billions if she were to sell the whole thing. #wwdnews #wwdbeauty (📷: @clint_spaulding)
@assouline’s latest book, “The Spirit of Bentley: Be Extraordinary” captures the adventurous attitudes and opulent lifestyles of @bentleymotors’ most creative owners and enthusiasts throughout the U.K. The 292-page hardcover has a section dedicated to showing its team of skilled artisans and photos of its most colorful owners, from George Bamford to designer @alicetemperley, pictured here by Aline Coquelle. #wwdeye
@google released its report on the most popular search terms this year. For fashion brands, the list was led by @gucci, the luxury brand that stunned the market last October when it pledged to stop using fur. Runner ups were @supremenewyork and @fashionnova, along with more established brands like @louisvuitton, @chanelofficial and @ysl. #wwdfashion (📷: @aitorrosasphoto)
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)