LONDON — Italian accessories brand Piquadro is in exclusive talks to buy the French accessories label Lancel from Compagnie Financière Richemont, parent of brands including Cartier, Dunhill and Van Cleef & Arpels.Piquadro, a publicly quoted company, issued a statement to the Milan stock exchange confirming that talks have begun and that it has started due diligence on Lancel. It said a deal could be tied up by the middle of this year.On Tuesday, a Richemont spokesperson confirmed that talks about the disposal of Lancel are underway.The disposal of Lancel would follow Richemont's sale of Shanghai Tang last year to an Italian investor, and is part of the luxury group's efforts to clean house and focus on its biggest brands and businesses.Richemont is currently planning to buy 100 percent of the shares in Yoox Net-a-porter Group in a deal that's set to be completed later this year.In an early morning report, Luca Solca of Exane BNP Paribas said selling Lancel would be a "small positive" for Richemont, as it demonstrates the luxury giant's focus on the "rationalization and loss reduction in the soft luxury division."Solca pointed out that Richemont bought Lancel in 1997 for $360 million, but has struggled to grow it. Solca estimated that Lancel generates around 150 million euros in sales and loses at least 40 million euros per year.Richemont includes Lancel in its "other" brands division, and does not break out sales or profit figures for the company.
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