PARIS — Private equity firm Advent International has acquired a majority stake in French fashion chain Gerard Darel with a view to speed its global expansion. Financial terms were not disclosed.
In a statement, Advent said it would support a plan to double Darel’s turnover by doubling its store presence in France to 80 locations, and to expand its global presence. Management at the Paris-based firm, led by the founding family, will remain in place.
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?"