PARIS — French fashion brand Sonia Rykiel and Fung Brands Ltd. said Monday they have finalized a deal that will see Fung Brands acquire 80 percent of the Rykiel business, leaving the Rykiel family with a 20 percent stake. Financial terms were not disclosed.
Nathalie Rykiel, Sonia’s daughter and the current president of the brand, has been named vice chairman of the board. This completes the operation initially revealed by the two brands on Jan. 26.
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?"