MILAN –Diesel and Marcolin on Wednesday said they had renewed their eyewear licensing agreement, which was first inked in 2010 and meant to run through December 2018.The new agreement, which extends through 2023, grants Marcolin the exclusive right to design, produce and distribute Diesel’s optical frames and sunglasses."The early renewal of the license agreement with Diesel expresses our clear willingness to invest in prestigious and international brands in such a complex and competitive market as eyewear,” said Massimo Renon, Marcolin Group worldwide commercial general manager.As reported, last February LVMH Moët Hennessy Louis Vuitton and Marcolin revealed a plan to set up a join venture.Starting in 2018, Marcolin will design and manufacture eyewear for the Céline and Louis Vuitton brands. LVMH will control 51 percent of the joint venture and Marcolin will hold the remaining 49 percent.In the run-up to the joint venture, Marcolin is launching a capital increase of 21.9 million euros, or $23.5 million at current exchange, and issuing a bond of 250 million euros, or $268.2 million, which is expected to mature in 2023.LVMH will take a 10 percent stake in Marcolin, which produces and distributes eyewear collections for brands including Tom Ford, Tod’s, Balenciaga, Moncler and Dsquared2.Marcolin listed a new revolving credit facility of up to 40 million euros, or $43 million. The company will use the funds to redeem 200 million euros, or $214.6 million, of senior secured notes due in 2019 and other short- and medium-term financing.Marcolin estimated that equity contributions to the start-up costs, capital expenditures and working capital will total between 20 million and 25 million euros, or $21.4 million and $26.8 million, over the course of the next four to five years, of which it expects to fund approximately 7 million euros, or $7.5 million, in 2017.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion