PRADA DIVESTS BYBLOS TRADEMARK, LICENSES
Byline: Courtney Colavita
MILAN — First it was arriverderci Fendi. Now Prada Group is saying ciao Byblos.
The luxury goods company said Monday that it had sold the Byblos label for an undisclosed price to Swinger International SpA. The deal, however, includes only the Byblos trademark and its respective licenses. The state-of-the-art factories — which were included in Prada’s acquisition of the Genny Group last year — as well as the Genny brand, are staying with Prada. Byblos’ creative directors, Martine Sitbon for women’s and Sandy Dalal for men’s, are not joining the new ownership.
This is the second divestiture for Prada in the past six months. In November, it sold its 25.5 percent stake in Fendi to LVMH Moet Hennessy Louis Vuitton.
A Prada spokeswoman said the company intended to sell Byblos even before it bought a controlling stake in Genny Group from the Girombelli family last July. In a statement, Prada reiterated its commitment to the Genny label.
“We confirm our willingness to guarantee the current level of employment [at the factories] and to invest in the development of the Genny brand,” the statement said.
A Prada spokeswoman said the factories are currently being used for the Prada and Miu Miu lines.
A spokesman for Swinger said the company would communicate plans for Byblos next week, but noted the brand’s new design team includes Stefano Citron, Greg Myler, Federico Piaggi and Donatella Rossi.
Verona, Italy-based Swinger produces several collections under license, including Roccobarocco Jeans, Laura Biagotti Roma and Vivienne Westwood Anglomania.