LONDON — SynovaCapital, a London-based private equity group, said it has invested in The Lunan Group, which owns the midrange handbag brands Fiorelli and Modalu. The company did not disclose the financial terms of the deal, but British press reports have estimated that Synova acquired The Lunan Group for between 15 million and 30 million pounds, or $29.2 million and $59.8 million. The company said Fiorelli, which is sold across the U.K., Germany, Sweden and South Africa, has a 13 percent share of the handbag market in the U.K. Following the deal, Stuart Lunan will remain as chief executive officer of The Lunan Group, while Leo Gestetner, a co-founder of Brands Etc., whose businesses include the lingerie brand Myla, has been appointed executive chairman. Marlies Spiekman, formerly finance director of LVMH Moët Hennessy Louis Vuitton’s leather business in the U.K., has been made chief financial officer. “Synova Capital’s decision to invest in the business, together with the appointment of Leo and Marlies, gives the group the management expertise and financial resources to realize our international growth strategy, while maintaining our strong performance to date in the U.K.,” said Lunan. Synova Capital was founded last year by Poju Zabludowicz, Philip Shapiro and David Menton. Paul Myners, a former chairman of Marks & Spencer, joined Synova as investment committee chairman in May.
Exclusive: @isabelmarant and @lorealmakeup have teamed up to create a capsule makeup collection. "She is rather natural in the day but doesn't have time to go back home before going out [in the evening] and redo her entire beauty look," said Marant on the 5 products included in the collection, which will launching in September. Read @jenniferbethweil's interview with the designer on WWD.com. #wwdnews #wwdbeauty
After 17 years, Tomas Maier is leaving @bottegaveneta. “I am deeply grateful to him and I personally thank him for the work he accomplished, and for the exceptional success he helped to achieve,” said François-Henri Pinault, head of parent company @kering_official. Head to WWD.com for more on his departure. #wwdnews #wwdfashion (📷: Davide Maestri)
@shaymitchell is no stranger to teaming up with beauty brands, but she’s made her latest partnership official: She’s signed with @buxomcosmetics as global creative brand ambassador, WWD learned exclusively. Mitchell and Buxom will collaborate on campaign development, social media strategy and content and new product and shade development. Read more on WWD.com. #wwdbeauty (📷: @clint_spaulding)
Today we’re at the WWD Retail 20/20 Forum where industry leaders will be talking about the future of shopping for fashion, footwear and beauty. Tune in on Instagram Live at 9 am and 3:30 pm to hear from two of our speakers –– @therealreal’s Rati Levesque and @bandier’s Stephen Ippolito. #wwdsummits (📷: @elizaflorendo)
Seen last night at @coach’s launch party for “Life Coach,” an interactive pop-up in Soho: @joansmalls. Open now, visitors of the pop-up can engage in themes of “creativity and self-expression,” through tarot, carnival games, live performances and art. See the rest of the party pics on WWD.com. #wwdeye (📷: @vnina)
“We figure there’s enough cynicism to go around the world right now let’s go out there and be ourselves, let’s be enthusiastic, let’s have positive energy, which is something I think a lot of people really want and need right now,” said musician @joshgroban ahead of hosting the Tony Awards with @sarabareilles. Read @leighn’s interview with Groban on how he picked his look for the night, his next record and more on WWD.com. #wwdeye #tonyawards (📷: @vnina)
“Rock as an attitude and not a uniform. Street as a style and not just clothing. Sportswear as the new normality,” @paul_surridge said of his first @roberto_cavalli men’s wear collection, previewed here. The British designer joined the brand as the creative director in May 2017, and is gearing up to unveil his debut for the label with a runway show at the Florence Charterhouse on June 13 at #PittiUomo. Head to WWD.com to read more about his collection and see more sneak peek photos. #wwdfashion (📷: @simonelezzi)