NEW YORK — Liz Lange, the 10-year-old designer maternity company, has a new parent.
The company was sold Thursday night to Bluestar Alliance for an estimated $50 to $60 million, industry sources said.
Bluestar, led by Ralph Gindi and Joey Gabbay, recently purchased Ron Chereskin, the men's apparel brand. Bluestar also owns Wellington Capital Group, where Gabbay is president. Wellington last year acquired the Harvé Benard brand.
Neither Liz Lange nor Bluestar executives could be reached for comment.
Lange, who started her firm in 1997 offering stylish, well-made maternity clothes, struck a chord with celebrities such as Gwyneth Paltrow and Sarah Jessica Parker, as well as regular moms. The company operates three freestanding stores on Madison Avenue here, North Beverly Drive in Beverly Hills and in Greenvale, N.Y. It also has an e-commerce Web site.
In 2001, Lange joined with Nike to produce an exclusive line of maternity athletic wear. The next year, she signed an exclusive agreement with Target Corp. for a less-expensive maternity line while continuing upscale distribution of her designer maternity line.
Industry sources estimate Lange's business generates $200 million in revenues, including licensees. The designer has been eager to strike a deal with a private equity firm for several years to aggressively expand both her product line and freestanding stores. Sources said Lange plans to close her existing stores in the first half of 2008, and re-open in new locations later in the year and in 2009 with expanded product assortments for mothers and babies. She also expects to branch into women's ready-to-wear.
The author of "Liz Lange's Maternity Style: How to Look Fabulous During the Most Fashion-Challenged Time," Lange also has collaborated with Nikon on a limited edition Liz Lange camera.
In a speech last year to the fashion industry, Lange recalled that she faced opposition from retailers in launching her business. One told her women didn't care about their appearance during pregnancy because it only lasted nine months.
"No matter what anyone says, if you think you have a good idea, you probably do...don't let anyone tell you it can't be done," she told the group.
Donatella Versace will receive the International Award at the 2018 @cfda awards, which were announced tonight. Tap link in bio for a list of all the nominees and honorees. #wwdnews #wwdfashion (📷: @rahirezvanistudio )
The 2018 @cfda Awards nominees are out! @virgilabloh for @off____white for is nominated for Womenswear Designer of the Year. Tap link in bio for all the nominees. #wwdnews #wwdfashion ( 📷: @simonelezzi)
@chanelofficial is suing high-end vintage retailer @whatgoesaroundnyc for trademark infringement, a move that could cost the retailer millions. The French fashion house claims that it’s not only unintentionally sold counterfeit goods on occasion, but that it’s “gone out of its way to create an association with Chanel,” which does not exist. Read Chanel’s statement on WWD.com #wwdnews (@aitorrosasphoto)
Exclusive: Guillaume Henry has left @ninaricci, the fashion house said on Thursday. “After three years of mutually gratifying creative collaboration, Nina Ricci and Guillaume Henry have together decided that the designer will depart the house after the presentation of the fall-winter 2018-19 collection,” Ricci said in a statement. Get all the details on WWD.com #wwdfashion (📷: @aitorrosasphoto)
“When Bella enters a room all heads turn,” said @peterphilipsmakeup, creative and image director for @diormakeup. Last night, the two celebrated the product launch of Dior’s Lacquer Plump in Los Angeles with other celebs like @parisjackson, @winnieharlow and more. Head to WWD.com to see the rest of the photos from the night (📷: @chelsealaurenla) #wwdeye
“These shirts are an art form, it’s about getting the message out to as many people as you can. It breaks down the pretentiousness of the art gallery,” says Kumasi Sadiki, cofounder of @ebayontheblock, a store that sells merchandise by New York artists who are shifting their attention to clothes as a wearable medium. Pictured here is a design by artist @joegarvey_, one of the first to spearhead this movement. Head to WWD.com to read @mistywhitesidell full story on how their designs have become merch for the underground elite #wwdfashion
@netaporter is dedicating a part of its website – called the Fine Jewelry and Watch Destination – to highlight its high-end jewelry. The hub will feature products on the site, as well as incorporate styling advice and educational content about high-priced jewelry items. Get more details on WWD.com. #wwdaccessories
For “The Cher Show,” an upcoming musical based on @cher’s life and career, @bobmackie is once again collaborating with the singer in designing the costumes. For decades, Mackie has designed glitzy stage costumes and red carpet looks for the 71-year-old Grammy winner. Pictured here is a sketch of some of the pieces in the wardrobe of the musical, which is set to debut in Chicago on June 12 before making its way to Broadway #wwdeye