NexCen Brands Inc. has tightened its grip on the Bill Blass business it’s trying to sell with the acquisition of Bill Blass Couture, the firm responsible for the ready-to-wear collections presented under the late designer’s name.
NexCen acquired the business from Michael Groveman and Carly Andrews Inc. for $425,000 in net liabilities. It agreed to forgive the acquired firm’s obligation to repay about $950,000 lent during the first quarter of this year to support marketing expenses and released Groveman from a three-year non-compete provision dating to NexCen’s acquisition of the Blass brand in February 2007.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)