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Huda Beauty reclaims independence as Mona Kattan and General Atlantic take over KAYALI
Huda Beauty is redefining its future with the sale of its fragrance brand, KAYALI, to co-founder Mona Kattan and private equity firm General Atlantic. This strategic move paves the way for Huda Beauty to regain full founder ownership, marking a rare milestone in the beauty industry. Founded in 2018 by Mona Kattan under the Huda…
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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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The Business of Skincare: Inside Beauty’s Investment Boom and Changing Consumer Trends
In my early twenties, I experienced two difficult bouts of acne. This came very unexpectedly, given that as a teenager, I was blessed with clear, blemish-free skin. Each time, I scoured the internet for solutions, only to be met with an avalanche of conflicting advice. One day, niacinamide was the Holy Grail; the next, it…
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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…
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Golden Goose gains strategic investment from Blue Pool Capital
Golden Goose, the Italian luxury sneakers and apparel brand, has secured a 12% minority investment from Blue Pool Capital, a Hong Kong-based investment firm. The deal, completed after Golden Goose postponed its planned IPO in June 2024, allows Permira to maintain its majority ownership. CEO Silvio Campara welcomed Blue Pool as a strategic partner, highlighting…
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HongShan Capital nears $1.1bn acquisition of iconic audio brand Marshall
HongShan Capital Group, the private equity firm previously known as Sequoia China, is in advanced talks to acquire Marshall Group, the iconic audio equipment maker, for $1.1bn. The Stockholm-based company is famous for its guitar amplifiers, used by legendary musicians such as Jimi Hendrix, Eric Clapton, and Lana Del Rey. The founding Marshall family is…
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Kim Kardashian’s Skky Partners acquires minority stake in UK-based skincare brand
SKKY Partners, the consumer-focused private equity firm co-founded by Kim Kardashian and Jay Sammons, made a “significant” minority investment in luxury skincare brand 111Skin. This investment aims to support 111Skin’s expansion of its direct-to-consumer operations. It also aims to enhance its presence in Asia and North America, although exact financial terms remain undisclosed. Founded in…
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Gucci owner sells €837m stakes in Paris properties to private equity firm Ardian
Kering, the luxury group behind Gucci and Saint Laurent, has sold 60% of its stakes in three prime Paris properties to French private equity firm Ardian for €837m. The properties, located in Place Vendôme and Avenue Montaigne, house flagship stores for Balenciaga, Valentino, and Boucheron. Kering will retain 40% ownership and secure its brands’ continued…