VCS Group, a wholly owned subsidiary of the Camuto Group, has acquired a majority stake in Development Clothing LLC, a contemporary apparel brand designed by Erica Davies, who will stay on as creative director.
A minority stake in the firm remains in the hands of Development's founding partners, Andrew Crane and Stuart Gaddis, and Davies, who has been designing the line since early last year.
The goal with New York-based VCS as the parent for Development is to grow it into a full lifestyle brand by adding product categories such as footwear and accessories.
"The brand has a great position in the contemporary women's marketplace," said Vince Camuto, chief executive officer of the Camuto Group. "We don't want it to be huge, but the design sensibility of the brand is a great format for growth into new categories."
Camuto declined to specify the brand's annual volume, but said it was "in the teens," or somewhere between $13 million and $19 million. He and Bob Galvin, president of the company, said they plan to grow the product within the high-end specialty doors that already sell Development, which include Barneys New York, Henri Bendel and Fred Segal.
"There is tremendous growth potential overseas," Galvin said. "It has a small presence now in Asia, the Middle East and in Europe, but we feel we can really grow our overseas distribution."
Development, based in Los Angeles, has been in business for five years. The company has two brands, Development by Erica Davies, which wholesales for $70 to $525, and a higher-end dress collection called Erica Davies Collection, which wholesales for about $300 to $700.
The Camuto Group designs, develops and distributes women's footwear, which is sold in more than 5,400 doors worldwide. 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.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)