After selling its Valentino business last year, Permira said Tuesday it has divested the MCS We The People brand, formerly known as Marlboro Classics, controlled by MCS Italia SpA. The transaction took place between the Emerisque Brands UK Limited investment vehicle Cavaliere Holdings S.à r.l. and Red and Black S.à r.l., indirectly controlled by the Permira Funds with the Marzotto family. Financial details were not disclosed. Emerisque said it is potentially eyeing further acquisitions in Italy.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"