PHOENIX, SIRIUS BUY STAKE IN LK BENNETT: London-based private equity companies Phoenix Equity Partners and Sirius Equity have together taken a majority stake in LK Bennett, a London footwear and clothing brand that operates 90 stores and concessions throughout the U.K., and one store in Paris. As part of the transaction, Robert Bensoussan, co-founder of Sirius, has been named chairman of LK Bennett, Phoenix and Sirius said on Saturday. Linda Bennett, who founded the company in 1990, will remain a non-executive director with a 30 percent stake in the business. The brand is known for catering to a tony clientele. Bennett in 2005 designed the shoes that Camilla, Duchess of Cornwall, wore when she wed Prince Charles. A report in London's Financial Times over the weekend said that the company is set to achieve sales of 60 million pounds, or $119.8 million, in the fi scal year ended July, and operating profi ts of 12 million pounds, or $23.9 million. The FT report added that Phoenix and Sirius had paid between 80 million pounds and 100 million pounds, or $159.8 million and $199.8 million, for their stake in LK Bennett. The terms of the deal were not disclosed. LK Bennett plans to open new stores in the U.K. and establish a retail presence in Europe, the U.S., Asia and emerging markets. The companies said they also plan to develop LK Bennett's product range and explore licensing opportunities for the brand. Bensoussan called LK Bennett "an incredibly strong brand," adding, "We believe there is an exciting opportunity to develop the business and the brand further." Phoenix and Sirius have previously worked in partnership to develop the Jimmy Choo and Radley accessories brands.
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