DIVING IN: Swiss private equity firm Capvis has inked a deal to buy performance swimwear brand Arena. The transaction was between Capvis and private equity fund Riverside, which bought Arena in 2010 and currently holds a 95 percent stake, along with Arena president and chief executive officer Cristiano Portas, owner of 5 percent of the label. The value of the deal was not disclosed.
“As a global champion in its niche, Arena perfectly fits the Capvis investment strategy,” said Capvis partner Andreas Simon. “Propelled by innovation and uncompromising commitment to the sport of swimming and the brand visibility powering its surge worldwide, Arena is uniquely positioned in one of the most popular sports categories. Arena’s brand equity, validated from premier teams and organizations, offers significant value creation potential.”
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?"