Thirteen down, three to go. Liz Claiborne Inc. has sold active brand Prana for $36.5 million, plus as much as $4 million more based on 2008 performance.
Prana Living LLC, a company formed by Prana's management team, and Steelpoint Capital Partners, a private equity firm with a portfolio that includes Kidrobot and Tasti D-Lite, bought the $33 million eco-friendly brand for more than 11 times earnings before interest, taxes, depreciation and amortization.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"