MILAN — Alessandro Benetton’s investment fund 21 Investimenti has acquired a majority stake in Contemporary Bags, the Italian company controlling the Gianni Chiarini Group.Specific terms of the deal were not disclosed.Florence-based Gianni Chiarini Group produces and distributes the Gianni Chiarini and GUM brands' handbags and accessories collections. In 2016, Gianni Chiarini Group posted revenues of 35 million euros, or $38.8 million at average exchange. Exports account for 60 percent of the group’s total business.Following the deal, the group’s founder Gianni Chiarini will retain a significant stake and continue working in the company, while Cristina Cortesi is to be appointed its chief executive officer. Most recently, Cortesi held the role of managing director of Bulgari’s accessories business unit.[caption id="attachment_10839943" align="aligncenter" width="1024"] A GUM bag[/caption]“The Gianni Chiarini Group features all the characteristics, which 21 Investimenti looks for when it invests into a project. The group embodies all the typical values of Made in Italy: high-end design and quality, excellent craftsmanship, and attention to customers’ taste and needs,” Benetton said in a statement. “The group has a huge growth potential on international markets. To reach our ambitious goals, we established a high-profile managing team. We are strongly focused on creating a relevant player in its market able to offer innovation and attention to customers, especially Millennials.”According to Benetton, 21 Investimenti will expand the presence of the Gianni Chiarini and GUM brands in new markets through new distribution channels, collections, and customized marketing and communication activities. A series of flagship stores are also expected to open in key locations.Through this acquisition, 21 Investimenti is expanding its portfolio of brands positioned in the mid-market. Last July, the private equity company acquired Italian footwear label Philippe Model.
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)
Discovery is collaborating with British pop artist @philipcolbert on a new line of clothing and accessories called Discovery Shark. The collection, which will launch next summer for Shark Week’s 30th anniversary, features a whimsical line of women’s and men’s bomber jackets, sweatshirts, bags and more. #wwdfashion
“I’m always a big champion of a female rapper, and I’m glad to see a new voice that feels unique and authentic that’s coming up, and I think we’re going to see more great things from her,” said @itsjeremyscott about @iamcardib, who performed at @moschino’s Art Basel Miami Beach party last night. #wwdeye (📷: @lexieblacklock)
@janellemonae’s “What’s Your Frequency?” room in @refinery29's #29Rooms made its debut this week at the opening of the Los Angeles art exhibit. “It’s about the ongoing conversation around mass surveillance, the weaponization of technology and cultural uniformity. My space was created so that we can come together and talk about the complexities of our humanity,” said Monáe. #wwdeye (📷: @bucknerphoto)
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)