Private equity firm Istithmar World Capital has acquired a 40 percent stake in Espa International, the U.K.-based global luxury spa company.
Espa, which has designed some of the world's most luxurious spas in five-star hotels — its latest is with the Peninsula New York Hotel — also markets a natural product range and runs a spa management division. The company operates 100 spas in 45 countries around the world, with offices in the U.K., U.S. and Hong Kong. A Dubai office, where IWC is based, is due to open later this year.
Susan Harmsworth, who serves as chief executive officer and founder of Espa International, originated the company in 1993. Her son, Charles, who serves as brand director, said the deal allows the company to grow at a much faster pace, and "to expect great things from Espa" in the future.
"We brought the brand to a certain point and a minority investment allows us to build a bigger [manufacturing] facility and bring more people into the U.K.," said Charles Harmsworth.
IWC's portfolio includes Barneys New York, which it purchased from Jones Apparel Group for $942.3 million in August.
Espa is launching a new skin care range, Super Active, which will be carried on Espa's Web site in August and will be available in spas in October. Super Active is Espa's biggest product launch in several years and targets different skin conditions and types.
There are four different ranges: Tone & Firm, Calm & Soothe, Repair & Restore and Cellular Hydration. A new Eye Firming product also has been designed. Facials will be offered in Espa's spas around the world reflecting the new Super Active ranges.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion