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.
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion