PARIS — Devialet, a French maker of deluxe hi-fis, said on Monday it has raised $19 million in new funding for expansion, with luxury titan Bernard Arnault among the investors.A total of $15 million was raised via a consortium of investors that also included Jacques-Antoine Granjon, chief executive officer and founder of online retailer Vente-Privée.com; Xavier Niel, founder of Internet firm Free and a co-owner of Le Monde with Pierre Bergé and Matthieu Pigasse, and Marc Simoncini, founder of dating Web site Meetic. The balance of the capital increase derives from existing investors.Founded in 2007 and based in Paris, Devialet markets a high-definition amplifier called D-Premier, priced at 11,920 euros in Europe and $15,250 in the U.S, where it is sold in around 20 high-end hi-fi stores.“Bernard Arnault is a music lover, so he pays close attention to sound definition and to details like the design of the D-Premier,” Quentin Sannié, Devialet’s co-founder and ceo, told WWD. He said although Devialet is not a subsidiary of French luxury giant LVMH Moët Hennessy Louis Vuitton, run by Arnault, there could be plenty of opportunities to collaborate with the group’s different brands, such as on designing the amplifying systems for their stores.Devialet’s estimated 2012 sales will be 4 million euros, or $5 million at current exchange, double the 2 million euros, or $2.8 million at average exchange, the company generated in 2011, according to Sannié. He added Devialet could register 100 percent growth again in 2013, thanks to the capital injection, which is meant to back new products and help broaden the company’s international footprint.Devialet already makes 90 percent of its revenues outside of France.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim