Looks from BCBG Max Azria, Hervé Léger and BCBGeneration.
Marquee Brands has a number of challenges ahead as it looks at growth opportunities for the BCBG Max Azria brands it acquired last month.The New York-based brand management firm purchased the intellectual property for the BCBG Max Azria, BCBGeneration and Hervé Léger brands as part of the company’s exit from bankruptcy proceedings. Connected with the $108 million Marquee acquisition is the purchase by Global Brands Group of certain company operations for $27.4 million. BCBG filed for bankruptcy court protection at the end of February. Company founder Max Azria and creative director Lubov Azria are no longer involved with the fashion house.Cory M. Baker, Marquee’s chief operating officer, said, “There are opportunities to expand and when we look at the Max Azria brand, we see these are blue sky opportunities coming down the road. We have our work cut out for us and have to first put things on the right path again.”Baker explained that the last few years have not been kind to BCBG, noting that the design wasn’t “on point” with what BCBG has been known for due to the financial issues that were ongoing at the firm. With a new design team in place, Baker said he’s already seen a “lift in the freshness of the merchandise that’s feeling more like the BCBG of old.” He also said the design flexibility inherent in the two core BCBG brands allows for options to suit different lifestyles and needs. “For us, that’s liquid gold,” Baker said.Despite some missteps over the years, the brand still has a loyal following among consumers, and resonates with a broad demographic group of women, said Michael DeVirgilio, Marquee’s president.According to DeVirgilio, “The consumer is the most important person in the chain that we need to address. In our thorough and in-depth discussions with every major retailer, [they] made it clear that this was an incredible brand for women. They wanted us to invest in it and build it for their doors.” He noted that the brands also have a “significant presence outside of the U.S.,” giving the BCBG collective a broad global reputation that Marquee can build on.The two are analyzing opportunities in key categories, as well as licensing options, and the first looks for spring 2018 are being shown internally within Marquee and GBG. Outerwear, which has done well, will likely continue as is. GBG is working with Marquee on core categories such as the collection, footwear and handbags. Category extensions including eyewear and fragrance will likely become more important again, as they were before the company began showing signs of financial distress. GBG will also operate the existing network of BCBG stores. There are 275 BCBG shops-in-shop in the U.S. and 40 freestanding retail boutiques. [caption id="attachment_10859981" align="aligncenter" width="600"] A BCBG storefront.[/caption]Jason Rabin, GBG’s president of North America, said, “We look forward to leveraging the brand’s strong heritage while creating new growth opportunities that better align with today’s consumer.” He also noted the BCBG brand’s ability to “translate across cultures.”The BCBG brands add to Marquee’s existing umbrella of brands that include Bruno Magli, Ben Sherman and Body Glove. The learnings from its earlier acquisitions has helped Marquee better understand the changing retail landscape.“The biggest thing we learned is that brands today can’t make decisions for consumers on what to buy. Luxury brands in particular tend to believe that they can almost create a trend, present the [merchandise], and shove it down the throats of consumers and be successful. In the last few years, the consumer has become more sophisticated. More than that, she now wants a voice [and] to be a part of the process, not to be told what to wear. We know that we have to pay more attention to what is trending and what the consumer is wearing,” according to Baker.Marquee is backed by Neuberger Berman Private Equity, which established the company in September 2014. Last year, Neuberger successfully closed on a $462 million fund dedicated to Marquee for the purpose of IP acquisitions in the consumer products sector. That gives Marquee ready access to cash for funding of its acquisitions, without having to take on debt. Samuel Porat, a managing director at Neuberger, and Zachary P. Sigel, also a managing director at Neuberger, are the two who work most closely with Marquee, with Sigel leading the brand management firm’s acquisitions strategy.According to Sigel, the acquisition criteria includes brands having a history and heritage, a core DNA and soul, and the ability to have organic growth. He said the fund still has a “significant amount of dry powder left” to do more acquisitions.Porat said there’s no lack of options regarding Neuberger’s evaluation of brands that are available for purchase. He said, “There are opportunities out there.…We’ll see more in the months and years ahead. We are only in the third inning of the retail reset.”“With the dislocation in the market, we think we’re at a really interesting time from an acquisition-related perspective. We started Marquee in 2014. We didn’t imagine a scenario in two years’ time that we would be acquiring BCBG for $108 million,” Sigel said.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)