MILAN — Shareholders of Red & Black Lux Sarl, led by private equity group Permira and the Marzotto family, owners of Valentino Fashion Group SpA, said Wednesday they have committed to repurchase part of the company’s debt from Citigroup.
Another 100 million euros, or $142.8 million, has been earmarked for Valentino’s future expansion. In addition, VFG parent Red & Black reorganized the group’s structure, separating ownership of VFG, Valentino and the license business from the Hugo Boss business it also owns.
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)