Michael Kors | Source: Wall Street Journal
Kors IPO sets US fashion record (FT)
“Michael Kors, an upmarket fashion and accessories brand, has launched the biggest-ever public offering in US fashion, selling more shares than expected in a deal that will value the company at nearly $4bn… The deal was heavily oversubscribed and priced at $20 a share, above the projected range of $17 to $19. Investors in the company sold 47.2m shares, more than the 41m initially offered and raising $944m. The sale valued the company at $3.8bn.”
Hermès family finalises holding to prevent takeover (Reuters)
“The family owners of Hermès said on Wednesday that they had finalised the creation of a holding company with 50.2 percent of the share capital to protect the luxury house from hostile takeover. The creation of the holding, dubbed H51, has been in the works since last autumn when fashion giant LVMH revealed that it had secretly built up a 17 percent stake in Hermès.”
For Fashion Start-Ups, a Bridge to Investors (NY Times)
“Fashion is fickle, making it harder for start-ups to raise capital. But FashInvest, created by David J. Freschman and Karen Griffith Gryga, venture capitalists, is a platform that acts as a kind of matchmaker between seedling fashion companies and investors.”
5 Top Retail Success Stories for 2011 (Forbes)
“Sustainable, savvy, and stylish could best describe the business moves made by certain retailers now winding down the year in stellar fashion.”
Insiders | Susannah Frankel (AnOther)
“Ever since documenting the seminal Fashion-able? shoot by Nick Knight and her close friend, the late Alexander ‘Lee’ McQueen for Dazed’s 1998 issue; Susannah Frankel has forged an ongoing collaboration with Dazed and Confused which led to being appointed as Fashion Features Director of AnOther when it launched in 2000.”