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.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty