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Canada Goose’s future in flux as Bain weighs stake divestment
Bain Capital is reportedly weighing the sale of part or all of its controlling stake in luxury outerwear brand Canada Goose Holdings Inc., according to sources cited by Bloomberg. The private equity firm is said to be working with advisers and sounding out interest from potential buyers, including other private equity groups. Bain first acquired…
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Oakley Capital acquires heritage British brand Smythson in multi-brand expansion deal
Oakley Capital has acquired heritage British luxury label Smythson as part of a broader investment in iconic European brands. The deal, executed through Oakley’s investment vehicle Iconic BrandCo, also includes the acquisitions of Italian home furnishings label Fornasetti and premium leather goods maker Fabbrica Pelletterie Milano. Smythson, established in 1887 and renowned for its high-end…
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Renaissance-backed Rino Mastrotto brings Prada on board with 10% stake sale
Private equity-backed leather group Rino Mastrotto has sold a 10% stake to luxury fashion house Prada, marking a strategic partnership in the high-end leather supply chain. The deal, supported by Renaissance Partners, includes a cash investment by Prada and the transfer of two tanneries – Conceria Superior in Italy and Tannerie Limoges in France –…
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Goldman Sachs backs Prada’s bold $2.77bn move to revive Versace legacy
Goldman Sachs is spearheading a $2.77bn financing package to support Prada’s proposed acquisition of Versace, according to a report from Italian daily MF. The investment bank is leading a consortium to provide €2.5bn in funding, with €1.5bn earmarked for the purchase of the Capri Holdings-owned fashion house, and the remaining €1bn allocated to revive Versace’s…
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Prada nears landmark Versace acquisition in a €1.5bn power play
Prada is nearing a deal to acquire Versace for nearly €1.5b, in what could be one of the biggest shake-ups in Italian luxury. According to sources close to the negotiations, Prada and Capri Holdings – Versace’s parent company – are expected to finalize the deal this month, provided talks remain on course. The acquisition would…
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L Catterton-backed Birkenstock faces legal hurdle in design protection effort
Birkenstock, the German footwear brand backed by private equity firm L Catterton, lost a key legal battle as Germany’s highest civil court ruled that its sandals do not qualify as copyrighted works of art. The decision allows competitors, including retailer Tchibo, to continue selling similar models, posing a challenge to Birkenstock’s brand protection strategy. L…
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Editorial: The Deals, Disruptions, and Power Shifts Shaping Luxury
Luxury fashion is no longer just about the clothes. I hasn’t been for a long time now. It’s an intricate chessboard where billion-dollar gambits, power struggles, and seismic creative shifts determine who reigns supreme. The stakes? Cultural dominance, financial empires, and the future of an industry in flux. It’s a high-stakes arena where billion-dollar deals…
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Steve Madden expands global portfolio with £289m Kurt Geiger acquisition
Steve Madden has announced its acquisition of UK-based footwear and accessories brand Kurt Geiger in a deal valued at approximately £289m. The transaction sees the US fashion powerhouse acquire the British brand from private equity firm Cinven, as it looks to strengthen its international presence and expand its portfolio of accessories. The acquisition brings Kurt Geiger…
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Editor’s Letter – Fashion’s Next Act: A Tale of Reinvention
Fashion has always been embedded in transformation – of materials into garments, of trends into cultural markers, of businesses into empires. But today, the industry’s evolution feels particularly cinematic. Private equity titans, together with legacy designers, and rising investors are rewriting the script of a high-stakes drama. When I worked as a theatre costume designer…
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All eyes on Versace: Gucci Ex-CEO joins high-stakes bid for iconic fashion house
Former Gucci CEO Marco Bizzarri is reportedly pursuing an acquisition of Versace through his investment firm, Nessifashion. The $6bn sale of the iconic Italian brand, owned by Capri Holdings, has attracted high-profile bidders, including Prada Group, Investcorp, and private equity firm Permira. Barclays, which is managing the process, expects final bids in February 2025. Bizzarri’s…