Mrs. John L. Strong, the 80-year-old luxury stationery brand, has a new partner to fuel growth.
Circle Peak Capital, a New York private equity firm, has taken a minority interest in the company, Nannette Brown, chief executive officer and owner, disclosed last week.
“This has been a very society-driven, very social company for many years,” said Brown. “In the past few years we have expanded the offering to include diaries, notebooks, directories. With our new partner, there will be a continuation of growth in that sector, and you will see us roll out both stores and shop-in-shops.”
“Mrs. John L. Strong represents a unique investment opportunity in a growing sector of the luxury market,” said Circle Peak Capital founder and ceo R. Adam Smith. “Circle Peak Capital is excited to be working alongside a motivated management team to realize this brand’s full, long-term potential.”
Brown noted that Point One Percent, a branding firm, made a small investment in the company and will be helping to further the strategy.
Mrs. John L. Strong was founded in New York City in 1929, and is known for hand-engraved stationery for New York’s social set. World leaders, American presidents, royal families and celebrities have all used Mrs. Strong’s papers. Brown acquired the firm about six years ago.
Circle Peak Capital’s investments includes and Luxury Optical Holdings Co.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion