VF Corp., which first acquired one-third of Mo Industries Inc. capital stock last June, has purchased the remaining two-thirds of the Los Angeles-based firm, which owns the Ella Moss and Splendid contemporary brands.
The Greensboro, N.C.-based VF has acquired the firm from its founder, Moise Emquies, and Summit Partners, a private equity and venture capital company. VF is paying $161 million for the remaining two-thirds of Mo Industries, plus the repayment of $47 million in existing net debt, which will be funded through VF’s cash flow from operations. The acquisition agreement in June included a provision allowing VF to acquire the remaining stock in early 2009.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"