The Camuto Group clearly is interested in contemporary fashion as it has just made its second acquisition in the category.
This time, Camuto has acquired a 50 percent stake in Sanctuary Clothing, the North Hollywood, Calif.-based contemporary sportswear firm that launched in 1997. The partnership is with the brand's founders, Ken and Deb Polanco. Financial terms of the transaction weren't disclosed.
"The Sanctuary brand appealed to us in many ways; we love the management team and think the brand is a perfect complement to our current business," said Bob Galvin, president of the Camuto Group. "Our plan now is to support them as they continue to grow. We will help them to get into new categories to make them a full lifestyle brand — jewelry, handbags, footwear, outerwear — they are all good opportunities."
More immediately, Galvin said he will move the Sanctuary brand into its own showroom in New York within the next couple of months. Currently, its East Coast sales representation is in the Brothers & Sisters multiline showroom in New York.
Sanctuary is presently sold in some 1,200 department and high-end specialty stores, including Neiman Marcus, Bloomingdale's, Macy's West, Anthropologie, Dillard's, Ron Herman and Intermix. The apparel wholesales from $59 to $189 and will continue to have its headquarters in North Hollywood, where the Polancos are based.
"We are ready to move the brand into the next level," Ken Polanco said. "For a partner, we were looking for someone with passion for the fashion business and also looking for someone with experience in other categories, which of course, Camuto has. They have a lot of integrity and we both have the same ultimate goal for the brand."
Polanco, who declined to disclose the brand's annual volume, said he is confident a Sanctuary footwear collection will launch for fall 2009.
Hillary Fritz, the newly hired group president of designer apparel for the Camuto Group, will collaborate with the Sanctuary team to expand the existing business and will report to Galvin. Most recently she was at Jones Apparel Group, where she worked on the Nine West brand as group president. Prior to that, she was a vice president at Calvin Klein.The Camuto Group, based in Greenwich, Conn., first displayed its interest in contemporary fashion late last year when it purchased a majority stake in the Los Angeles-based Development Clothing LLC, an apparel brand designed by Erica Davies.
Camuto is best known for designing, developing and distributing women's footwear, which is sold in more than 5,400 doors worldwide. In November, Camuto teamed with NexCen, a global brand acquisition firm, to acquire The Shoe Box Inc., a chain that sells high-end shoes such as Giuseppe Zanotti, Chloé and Jimmy Choo. The company also owns the Vince Camuto and Arturo Chiang brands, and is the master licensee for the Jessica Simpson Collection. In addition, Camuto develops and manages the Antonio Melani and Gianni Bini brands, and holds the footwear license for BCBGirls, BCBG Max Azria and Nicole Miller. It is also currently working on a line of footwear for Bill Blass.
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)