MILAN — Kiko Milano is looking for a minority shareholder, according to Mergermarket this week.Citing unnamed sources, the financial news platform said the Italian cosmetics company is set to hire Rothschild as the adviser for the search, and mentioned Apollo, Carlyle, Investindustrial and Peninsula among the funds interested in taking a minority stake in Kiko Milano.Reached on Thursday, the company declined to comment.As reported, Kiko Milano is facing a transition and looking for a capital increase of about 100 million euros to reschedule its debt with creditor banks.The company's total debt is reported to be 200 million euros, with almost half of it owed to the Banca Generali SpA. The rest is owed to a pool of institutions, including the BNP Paribas and UniCredit banks.Founded in 1997 by entrepreneurs Stefano and Antonio Percassi, Kiko’s revenue for 2017 was 610 million euros, up 3 percent on the previous year. The brand operates more than 1,000 doors in 21 countries, including its largest flagship, in Milan, and an e-commerce platform spanning 35 countries.The company's e-tail sites will be enhanced, and in the U.S., where Kiko USA filed for bankruptcy in January, Kiko's e-commerce activity is the primary focus. The company is shutting down nearly all of its 29 brick-and-mortar units and closing its New York headquarters.The reorganization is part of a bigger, global plan that will favor retail expansion in markets experiencing high rates of development, such as Asia, India and the Middle East. The strategy calls for investments of 90 million euros over the next three years.In July, Kiko SpA, parent company of the cosmetic labels Kiko Milano, Madina, Womo and Bullfrog, appointed Cristina Scocchia as its chief executive officer. She formerly served as ceo and president of L’Oréal’s Italian division for four years and helmed the international operations of Procter & Gamble’s cosmetics business in Italy.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim