PARIS — A continuation plan for Selective Beauty has been approved by the commercial court of Bobigny, France.
The fragrance distribution and manufacturing concern had entered into administration in France in March.
On July 21, the court gave a nod to the plan proposed by Selective Beauty’s existing majority shareholder Investindustrial — through its subsidiary Perfume Holding — and Orlando Italy, a new stakeholder.
“Existing and new investors committed to making a considerable investment in Selective Beauty to finance growth,” said Corrado Brondi, Selective Beauty’s founder, without divulging the specific amount.
According to the continuation plan, the company’s reorganization in France is under way. Whereas in the past Selective Beauty’s business included a host of fragrance manufacturing and distribution licenses, it will now center on a limited number of partnerships.
On the distribution side, the firm maintains its license to sell Inter Parfums-produced fragrance brands in Italy. Selective Beauty’s fragrance license line-up includes the John Galliano, Iceberg, Max Mara, Trussardi and Benetton labels.
In line with its continuation plan, Selective Beauty appointed Enrico Ceccato as its chief executive officer in mid-July. He replaces Remy Sassin, who resigned. Ceccato also serves as a director of Orlando Italy.
Selective Beauty executives would not discuss the company’s sales. However, industry sources estimate the firm’s revenues in 2008 were 180 million euros, or $264.8 million at average yearly exchange.
In July 2008, Investindustrial acquired 77 percent of Selective Beauty.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast