– IN THE BAG: The European Commission has given the green light for CVC Capital Partners to acquire Samsonite Corp. Last month, the private equity firm said it would pay about $1.7 billion, or $1.49 a share, for the luggage and travel accessories company. At the time, CVC said it planned to continue moving the brand upmarket and expand Samsonite in high-growth Asia before contemplating an IPO at a later date.
– STARS AND DOLLS: The Olsen twins plan to create an exclusive line of virtual clothes and accessories for the more than nine million members of Stardoll, the virtual world for tweens, to buy and wear, Stardoll said Thursday. But that’s not all: The twins will interact with fans on the Web site’s “Real Celebrity” pages, judge a virtual fashion show and chat on the phone about fashion with a sweepstakes winner in the next few weeks. The Olsens and Stardoll will share revenues, but terms of the deal were not disclosed. “They’re very savvy businesswomen and we’re excited to see what happens when they introduce their line of clothing to the site because we think there’s great demand for it,” said Matt Palmer, executive vice president of Stardoll.
This story first appeared in the August 24, 2007 issue of WWD. Subscribe Today.