PPR SALE: Pinault-Printemps-Redoute, the French retailer that owns Gucci Group, on Tuesday said it was in exclusive talks to unload its electrical equipment supplier, Rexel, to a consortium headed by investment firm Eurazeo and Merrill...
PPR SALE: Pinault-Printemps-Redoute, the French retailer that owns Gucci Group, on Tuesday said it was in exclusive talks to unload its electrical equipment supplier, Rexel, to a consortium headed by investment firm Eurazeo and Merrill Lynch’s private equity. The deal values Rexel, which PPR had promised to sell by yearend, at 3.7 billion euros, or $4.88 billion at current exchange rates. It will ease PPR’s debt of 7.89 billion euros, or $10.41 billion, which was inflated by the purchase in April of outstanding Gucci shares, and makes good on PPR’s promise to shed its business-to-business activities in favor of retail and luxury. Over the last two years, PPR, controlled by French magnate François Pinault, has divested its office supplies division, its wood and construction supplies unit and consumer credit arms.
BULGARI’S SELL: Two members of the Bulgari family have tendered some of their shares in the Roman jeweler to finance personal endeavors. Paolo and Nicola Bulgari, chairman and vice chairman, respectively, sold a total of 5.9 million shares, or about 1.9 percent of the share capital, to Italian and international institutional investors on Tuesday, according to a company statement. The company did not disclose the tender price, but analysts put the price at 8.65 euros, or $11.48 at current exchange, a share. At that price, the brothers earned approximately 51 million euros, or $67.7 million, from the transaction. The money will be used to finance “personal projects,” according to the statement. Bulgari chief Francesco Trapani agreed to the sale, citing it would have no effect on the control of the company or impact the group’s dividend policy. The shareholders’ agreement, of which the Bulgaris and Trapani are members, continues to control the majority of the share capital at 51.9 percent, while a large portion of the remainder is traded on the Italian stock exchange. Bulgari shares fell 3 percent to close at 8.60 euros, or $11.42, on the Milan Bourse Tuesday.
NEW DEAL: Kenneth Cole Productions Inc. and G-III Apparel Group Ltd. said they have reached an agreement to expand their outerwear relationship. On Jan. 1, G-III, which has been the licensee for women’s Kenneth Cole New York and Reaction Kenneth Cole outerwear since 1995, also will manufacture, market and distribute men’s outerwear for the Kenneth Cole New York and Reaction labels, according to a G-III statement. The dual-gender license will last for four years and have one possible four-year renewal term.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)