LOS ANGELES — Contemporary brand Cynthia Vincent has found a majority investor with Gores Group LLC, the private-equity firm, also based here, that extended its reach into the apparel business with a 2010 investment in J.Mendel.While terms of the deal were not disclosed, Vincent, who started the Twelfth Street by Cynthia Vincent brand in 2003, said that with Gores’ backing, she plans to double or triple her more than $10 million in annual wholesale volume within two to three years.Vincent will stay on as designer and chief creative officer for both her apparel business, Twelfth Street, and Cynthia Vincent shoe and handbag lines, and retain a minority stake in the firm. Chana Taft, most recently an executive at True Religion Apparel Inc., has been named the company’s new president. Gores has also enabled the company to add a retail/e-commerce manager and a head of specialty retail.“Gores believes in my brand and understands what it takes to take it to the next level,” said Vincent, who noted the company’s priorities are strengthening its 385-door retail reach domestically and overseas, tapping into its e-commerce potential and deepening its current product range.Gores Group, which acquired J.Mendel through its consumer vertical division (it also has an industrial vertical) purchased the manufacturing company Big Strike — known for its mass-market and junior brands such as Heart Soul, Free Love and Tracy Evans — last year as a platform to acquire more apparel brands in nonluxury categories. Cynthia Vincent is the first Big Strike investment.“Through Big Strike, Gores plans to continue its investment in the apparel sector across various categories,” said Rochelle Gores, senior adviser at the company who spearheads the apparel division. “There is so much growth potential for Cynthia Vincent, and we’re committed to the apparel sector as a whole.” Big Strike is currently examining other brands, though they are not limited to Los Angeles-based or contemporary companies.For her part, Vincent, one of the Los Angeles designers at the forefront of the contemporary movement, has seen the category evolve for more than a decade. She founded the St. Vincent brand in 1993. Later, she folded it into the brand Vince. In 2003, she stepped away from Vince to launch Twelfth Street by Cynthia Vincent as the category was flourishing with other L.A. lines such as Michelle Mason, Trina Turk, the now-defunct Development (then designed by Phillip Lim) and Juicy Couture.“This partnership allows me to focus on product, which is what’s going to bring the company forward,” she said. “The mandate is to grow the business, but we want to do it with the best product.”Vincent plans to broaden her apparel collection, which comprises 70 percent of the business, to include more hot-selling categories, like jackets and bottoms, in addition to its core dresses, sweaters and prints. “I’ve been given creative freedom to design what sells, and I’ve wanted to get back into categories like leather jackets that I’ve had to scale down when I had limited resources.”Other areas Vincent plans to examine further down the road include a relaunch of girl clothing, which she has designed on and off, and the introduction of swimwear and beach-related accessories.“I want to concentrate on first getting the volume to where it needs to be, then eventually looking at more categories. I want to do it all, but I want to do it smart,” she said.
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion
@carmeloanthony is upping his fashion game once again, introducing a hat collection with @goorinbros. Called Fresh Greens by Melo x Goorin, the line consists of five unisex models, all of which are made in America from 100 percent wool. Each hat is lined with Anthony’s signature and the inscription “Knowledge of self, wisdom and understanding.” You can purchase the collection line at Goorin’s website as well as three off its stores in San Francisco, New York City and Las Vegas #wwdaccessories
“I am of tradition, but that doesn’t mean I have an old outlook on life,” Hubert de Givenchy told WWD in an interview in 1978. The legendary designer, who died last week at the age of 91, achieved wide success soon after launching his own couture boutique in the early ’50s, but he refused to pine for that time. For the first time since its original publication, read our interview with Givenchy on his awe for Audrey Hepburn and looking forward. Link in bio. #wwdarchives #fbf (📷: Pierre Schermann)
About last night: @alexachung and @supergausa toasted the launch of their capsule collection. “It’s the shape that I love, so rather than amend the last and make the sole crazy or do anything wild, we just did really subtle additions that I think make it look really luxe-y,” said Chung. #wwdfashion (📷: Marc Patrick)
Exclusive: @off____white’s @virgilabloh is launching an exclusive eyewear capsule collection @sunglasshut. The unisex collection, which is made up of three styles, first made its debut on the brand’s fall runway show in Paris. Get all the details on WWD.com – link in bio. #wwdnews #wwdfashion