John Richmond

Luxembourg-based investment company Blue Skye Sarl has acquired a majority stake in Fashioneast, the company controlling the John Richmond fashion brand.

“I am delighted to partner with Blue Skye, which gives us the best financial and international platform for our future development,” said Richmond, who started a legal battle earlier this year against his former business partner Saverio Moschillo.

The Neapolitan entrepreneur was the main shareholder of Akkurate Ltd., the company that last November sold the John Richmond brand to Luxembourg-based Fashioneast. The British designer claims Moschillo does not have the right to use his name to operate in the industry.

“Thanks to John’s great creative energy and talent, we are now prepared for an international success,” added Salvatore Cerchione, cofounder of Blue Skye, which counts investments in businesses including food and hospitality such as Cipriani Group and Venice’s Bauer Hotel.

According to Richmond, Fashioneast has already signed licensing agreements with manufacturers for the production and distribution of shoes, bags, scarves, sportswear and casualwear, as well as swimwear. The goal is to get footwear, bags and swimwear back on the market in spring and to relaunch sportswear and ready-to-wear for fall, he said.

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