LONDON — Hardy Amies, the Savile Row couture house founded in 1945, is planning an initial public offering on London’s AIM market by the end of January.
Tim Maltin, chairman and chief executive officer of Hardy Amies, said the company has already raised $4.9 million, or 2.5 million pounds (all figures are converted from the pound at current exchange), ahead of the offering, and that the money from the IPO would be used “to continue to rebuild the name of Hardy Amies.”
One-hundred percent of Hardy Amies is traded on OFEX, London’s junior market, and the shares will now be upgraded to AIM, the middle market.
In addition, Hardy Amies this week announced it signed a licensing deal with Stuncroft Brands Ltd. for the manufacture and distribution of a men’s ready-to-wear line. The deal foresees guaranteed minimum sales of as much as $1.5 million, or 750,000 pounds, in the first three years.
The line, which will bow for fall 2005, is destined for the U.K. market initially, but the company hopes to begin selling abroad, including the U.S., starting next year.
The strategy is hardly a new one for the house of Hardy Amies. Amies, who died in March 2003, originally built a major licensed men’s wear business worldwide, although he is probably best remembered as Queen Elizabeth’s couturier.
Maltin said Hardy Amies is seeking a partner to forge a similar women’s ready-to-wear license over the next six months. In addition, the company has developed a fragrance with the London-based perfumer Roja Dove, and is on the hunt for a new fragrance partner.
“We are, on the one hand, a couture house, and on the other, an intelligent licensing operation,” said Maltin. “And these deals lie at the heart of our expansion strategy.”
Other current licenses include small leather accessories and men’s wear and women’s wear for the Far Eastern markets. Sales at Hardy Amies, including turnover from licenses, are currently $39 million, or 20 million pounds.
Two years before his death, Amies sold his company for an undisclosed sum to the then Cardington Group plc, which has since been renamed Luxury Brands Group. Luxury Brands Group floated the company on OFEX in May 2001.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast