PARIS — French leather goods company Le Tanneur Wednesday said its majority owner Qatar Luxury Group has signed a deal to cede control of the company to French leather goods and accessories supplier Tolomei Participations through a capital increase. The 13.3 million-euro capital increase, which was announced in June, will take the form of a three-step process, including a simplified tender offer at a price of 2.50 euros per share. Upon completion of the deal, Tolomei will hold 50.2 percent of the capital and voting rights of Le Tanneur.An extraordinary shareholders' meeting and an initial stage of the capital increase are planned for the end of September; a supplementary capital increase and tender offer are expected to take place during the fourth quarter of the year. Qatar Luxury Group, which owns 85.6 percent of the capital and 92 percent of voting rights, will see its share reduced to 42.6 percent of both the capital and voting rights upon the first stage of the operation. Le Tanneur, which has around 550 employees, generated sales of 53.8 million euros last year. It was listed on France’s Euronext exchange in 2000.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
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"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
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