PARIS — Change Capital Partners has sold a majority stake in French fashion brand Paule Ka to businessman Xavier Marie, and the brand will be parting ways with its chief executive officer and creative director, WWD has learned.Marie, founder and former ceo of furniture and home decor company Maisons du Monde, has acquired an 80 percent stake in Paule Ka, with Change Capital retaining the remaining 20 percent, a spokeswoman for the label said on Wednesday.The private equity firm in 2011 bought a 70 percent stake in the label, subsequently upping its participation to 100 percent in 2015. Marie sold Maisons du Monde to Apax Partners and LBO France in 2008. It was subsequently bought by Bain Capital in 2013.Catherine Vautrin, chairman and ceo of the house since February 2015, is leaving to explore new opportunities in Italy. Creative director Alithia Spuri-Zampetti will also be leaving the company after a two-year collaboration, Paule Ka said in a statement, confirming a report in WWD on Aug. 2.Formerly the head designer in charge of women’s ready-to-wear collections at Lanvin, she was the first designer at Paule Ka since the departure in 2014 of founder and creative director Serge Cajfinger. Spuri-Zampetti also has stints at Valentino and Bottega Veneta under her belt.Paule Ka will not be presenting a spring collection during Paris Fashion Week. Instead, a capsule collection designed by its in-house studio will be shown to buyers at its showroom between Sept. 27 and Oct. 3, complementing its resort line, the last designed by Spuri-Zampetti.The label has targeted expansion in the United States, Middle East and Asia in recent years. “We have a global objective of doubling in size in the next five years,” Vautrin told WWD last year, adding that revenues totaled 45 million euros in 2015.Paule Ka has retail sales worth 63 million euros worldwide and is established in 37 countries through 320 points of sale, with 90 stand-alone stores and concessions and an online store, the company said.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion