PARIS — Kering said Thursday that its Redcats division has concluded the deal to sell Vertbaudet and Cyrillus, its children and familiy brands, to Alpha Private Equity Fund 6 for an enterprise value of 119 million euros, or $152.5 million at current exchange.
Assets still remaining in Redcats’ sprawling portfolio include La Redoute and Daxon, which the group expects to sell in the secondhalf of this year.
The French group had first announced plans to divest its Redcats division in 2009, but had to postpone the process in 2011 due to adverse market conditions caused by the European debt crisis, which stood in the way of potential buyers struggling to secure financing.
The group, which counts Gucci, Yves Saint Laurent, Bottega Veneta, Puma and Chinese jeweler Qeelin in its portfolio, is retail to focus on developing its apparel and accessories in the luxury and sports-lifestyle segments.
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18