MILAN — Italian investment company Excalibur I and German industrial group Steilmann Holding AG have teamed up to acquire a majority stake in German fashion retail giant Adler Modemarkte AG, which is listed on the Frankfurt Stock Exchange. Excalibur I, which is controlled by private equity Equinox and textile group G.&C. Holding, and Steilmann Holding will acquire 49.96 percent of Adler through financial vehicle corporation Bidco, featuring Steilmann Holding as its main shareholder. The transaction was inked between Bidco and private equity BluO,which bought the company in 2009 from Metro. Bidco will pay Adler, which operates 169 stores in Europe, 5,75 euros, or $7.44 at current exchange rates, per share and then will launch avoluntary tender offer for the remaining shares. According to a statement, the acquisition will allow Adler to increase its product quality and to expand in new markets, such as the Far East. Steilmann Holding, which aims to generate with Adler annual revenues of more than 1 billion euros, or $1.3 billion, will also re-brand a number of Adler points of sale as Boecker stores. Boecker is a fashion retail company controlled by Steilmann. In 2012, Adler generated 505 million euros, or $666.6 million, in revenues compared to the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 14 percent to 35 million euros, or $46.2 million.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim