MILAN — Another Italian group is mulling an initial public offering.
Discussing the opening of the new Coin Excelsior concept store in Rome on Wednesday, chief executive officer Stefano Beraldo said parent company Gruppo Coin, controlled by private equity fund BC Partners, is “evaluating” the possibility of spinning off the group’s OVS and Upim chains for a public listing. BC Partners took control of the group, which also includes the upscale Excelsior banner, in 2011, delisting it in the second half of that year.
Gruppo Coin, which is the largest clothing retailer in Italy, last year reported sales of 1.66 billion euros, or $2.2 billion at average exchange, up 0.6 percent compared with 2012. Beraldo said OVS sales in the first months of the year were up 12 percent, Excelsior was up 10 percent and Upim 2 percent.
The executive said the group invested 8 million euros, or $11 million at current exchange, in the three-level, 46,440-square-foot Coin Excelsior unit in Rome designed by architect Vincenzo De Cotiis. The store is positioned at an “intermediate” level between Coin and Excelsior and carries brands from Dodo and Tiffany to Marc by Marc Jacobs, Red Valentino, Joseph, Lauren by Ralph Lauren, Armani Collezioni, Paul Smith, Z Zegna, Barba, Lardini and Finamore, in addition to the owned food market Eat’s.
Beraldo described the Rome store as the brand’s “ambassador” unit, adding that the plan is to duplicate the concept to between five and six locations in other “important” cities in Italy, from Venice to Florence and Naples.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“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