MILAN — Elisabetta Franchi is expected to be the first fashion initial public offering of the year and, in a road show presentation on Monday, the namesake designer passionately told her life story to bankers and potential investors, explaining why the Bourse was the only possible means to ensure a long-term future for her company, founded in 1998.
A self-made woman, one of five children who grew up in dire financial straits and without a father, in one of the slides Franchi showed a drawing of a doll next to a photo of Angelina Jolie wearing one of her white, belted trenches. “I always had a vision, when I was six I knew what I wanted to do,” said Franchi, who throughout her one-hour-plus speech conveyed her determination, her sense of responsibility and focus. “I knew I wanted to dress women, it’s always been very clear in my mind.” Selling innerwear at a market in her teens, she “talked to and listened to women, developing a strong commercial sense. I knew what they wanted, and I know now what women want.”
Rhoxanne Villaseñor is keeping her family's "rh" theme alive.
Like her brother, Rhuigi of Rhude Villaseñor has a background in design. She launched The Rhod, a jewelry brand named after her father, several years ago, around the same time that her brother launched his cult-favorite streetwear brand. The Rhod, Villaseñor said, was mainly costume jewelry made of brass with gold plating. She has since elevated to fine jewelry, working strictly with gold and diamonds for Rhox, her newest jewelry venture. "As I’m getting older, it was important for me to be true to myself," said Villaseñor. "The way we marketed and branded Rhox, it’s more studio-artistic. I’m using fruits to reflect body parts and shapes because I want people to visualize themselves without comparing [themselves to] another person. The images are vibrant, bright, and it’s a reflection of me and my spirit. I want to bring joy to people — I do it for a living." 🍋
Victoria’s Secret has been sold – and Les Wexner is stepping aside.
Parent company L Brands sold 55 percent of the intimates giant to Sycamore Partners for $525 million. The deal includes the Pink brand. Victoria’s Secret will become a private company, while L Brands’ remaining operation, Bath & Body Works, will become a standalone public firm.
Following the transaction, Wexner – who has come under fire over the last 18 months for Victoria’s Secret failure to adapt to changing market conditions, his relationship with Jeffrey Epstein and alleged sexual harassment at the company, will transition from chairman and chief executive officer to chairman emeritus of the company he founded.
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