LONDON — Italian accessories brand Piquadro is in exclusive talks to buy the French accessories label Lancel from Compagnie Financière Richemont, parent of brands including Cartier, Dunhill and Van Cleef & Arpels.Piquadro, a publicly quoted company, issued a statement to the Milan stock exchange confirming that talks have begun and that it has started due diligence on Lancel. It said a deal could be tied up by the middle of this year.On Tuesday, a Richemont spokesperson confirmed that talks about the disposal of Lancel are underway.The disposal of Lancel would follow Richemont's sale of Shanghai Tang last year to an Italian investor, and is part of the luxury group's efforts to clean house and focus on its biggest brands and businesses.Richemont is currently planning to buy 100 percent of the shares in Yoox Net-a-porter Group in a deal that's set to be completed later this year.In an early morning report, Luca Solca of Exane BNP Paribas said selling Lancel would be a "small positive" for Richemont, as it demonstrates the luxury giant's focus on the "rationalization and loss reduction in the soft luxury division."Solca pointed out that Richemont bought Lancel in 1997 for $360 million, but has struggled to grow it. Solca estimated that Lancel generates around 150 million euros in sales and loses at least 40 million euros per year.Richemont includes Lancel in its "other" brands division, and does not break out sales or profit figures for the company.
@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