PARIS — Groupe Maesa has acquired Zorbit for an estimated $45 million to $50 million.
The deal was sealed Jan. 9, when Maesa, the Levallois-Perret, France-based firm, took a 100 percent stake in Zorbit, of New York. Both companies are private label beauty product makers. Some $12.5 million was paid on the day of the signing, while the remainder will be paid over five years, depending in part on Zorbit’s financial performance.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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?"