Redcats USA, a subsidiary of French holding company PPR SA, has completed the sale of its misses’ division that includes Chadwick’s, Metrostyle and Closeout Catalog Outlet to Monomoy Capital Partners, a $280 million private equity fund in the U.S. Terms of the transaction were not disclosed. Monomoy on Monday named Chas Hepler as the chief executive officer of its new acquisition, renamed the Women’s Apparel Group. The fund also appointed David Myles as chief operating officer. Both were at SD Retail Consulting Inc., a firm specializing in direct retail. Mitch Schaffer, managing director at the consumer banking division of Stifel Nicolaus, the lead adviser to Redcats, said the deal was a cash transaction. He also said there were both strategic and private equity buyers interested in the properties. The misses’ division has an annual volume of over $300 million and includes both Web and catalogue operations. Redcats said in January that it intended to sell the division following its acquisition of the United Retail Group, which includes almost 500 Avenue stores, to focus on plus-size apparel for men and women and on outdoor gear. “Our customer base has remained extremely loyal in a difficult retail environment, and we can continue to build a great business here by engaging all of our employees and providing our customers with consistently superior service and products,” said Hepler. According to Monomoy, the women’s apparel group targets women between the ages of 25 and 55.
Exclusive: @dsquared2 signs fragrance licensing agreement with Euroitalia, with the first effort of the new partnership being unveiled in September. The brand will launch two scents – one for men and one for women – in Italy. Read our interview with designer Dean and Dan Caten on WWD.com. #wwdbeauty #wwdnews (📷: @zefashioninsider)
@louisvuitton has officially renewed Nicolas Ghesquière’s contract as artistic director of women's collections. "I am very pleased to open the next chapter of the story I started with Louis Vuitton almost 5 years ago," said Ghesquière, who first signed on to design the French luxury brand's women's line in 2013. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @giovanni_giannoni_photo)
“I learned then and there that I had to figure out a way in life to maintain and preserve my sense of pride when I felt good about what I did or what I represented or created,” said @saintrecords on how being bullied for wearing capri pants inspired her to be the artist she is today. Knowles was at the 70th Parsons Benefit last night where she outbid the room for a Dapper Dan customized @gucci experience. #wwdeye (📷: @lexieblacklock)
“There’s this amazing braintrust of people who know the whole universe so well. So we talked to them and they gave us more input,” said actor Alden Ehrenreich on playing the young Han Solo in “Solo: A Star Wars Story.” The cast was at NYC’s SVA Theatre last night for an advanced screening of the film, which hits theaters this week. #wwdeye #starwars #hansolo (📷: @aurorarosedecrosta)
@asaprocky spent nearly two hours in a Plexiglas box Sunday night at @sothebys putting himself through a series of “tests” to demonstrate the process of completing his new album called “Testing.” Get all the details and see all the pictures on WWD.com. #wwdeye
“I’ve struggled my whole life to find a bathing suit that fits me that doesn’t look like a maternity bra. I’m proud of the line because it’s an accurate representation of me rather than me putting on someone else’s clothes,” says @atlantabean of her swimwear collaboration with @piaarrobio, LPA X ATL. The two decided on a swimwear collab and increased the industry standard size for the pieces. Read more about the line — and our interview with de Cadenet Taylor and Arrobio — on WWD.com #wwdfashion (📷: Dan Doperalski)
Exclusive: Cate Blanchett has been named the first global beauty ambassador for @armanibeauty. Blanchett has been the face of the brand’s Sì fragrance franchise since 2013, and is now representing all of the label’s beauty categories including makeup and skin care. #wwdbeauty (📷: @zefashioninsider)