Announcement

Collapse
No announcement yet.

Alaia buys back his business from Prada

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts
  • Faust
    kitsch killer
    • Sep 2006
    • 37852

    Alaia buys back his business from Prada



    GOOD FOR HIM!!!



    Alaia Buys Back Prada?s Stake in his House




    Godfrey Deeny

    July 28th, 2007 @ 00:25 AM - Paris

    In
    the latest rollback of Prada Group?s once grand plans to be an
    international fashion conglomerate, the Italian luxury company has
    announced plans for Azzedine Alaia to buy back their stake in his Paris
    house.



    Alaia, who originally entered into partnership with Prada back in 2000 will retake 100% control of his house and brand name.



    However, Prada Group ?will continue to develop and produce the
    footwear and leather goods collections for the Maison Azzedine Alaia,?
    Prada said in a joint statement with Alaia.



    Terms of the deal were not revealed. During its Prada period, Alaia
    had notched up impressive sale growth. In 2006, the Azzedine Alaia
    brand scored a 30% sales increase to 13.2 million Euros, or $17.8
    million at then exchange rates. Alaia was a relatively small investment
    for Prada, seeing as the group had 2006 sales of 1.425 billion Euros,
    or $1.924 billion



    Prada Group CEO Patrizio Bertelli bought into Alaia during the
    final stage of Prada?s acquisition binge that began in the late
    Nineties, which saw it buy control of Jil Sander, Helmut Lang, Church's
    and Car Shoe.



    "The collaboration with Azzedine Alaia has produced significant
    results for both the brand and the Company. We?ve had an intense and
    important relationship throughout these years that brought
    mutual enrichment and I personally and deeply thank Azzedine for
    this. Today Azzedine Alaia regains his independence, while maintaining
    a collaboration with our Group,? Bertelli said in the release.



    ?For Prada, this agreement is in line with the strategy to expand
    the Group and grow profitability by focusing on the development of the
    core brands in the world's key markets," Bertelli added.


    Added Alaia in the same release: ?I thank the PRADA Group for its valuable and total support

    to the Alaia brand during the last years. I thank particularly and
    personally Patrizio Bertelli for the attention and the sensitivity that
    he had and continues to have in support of my work... I am happy
    for our continued collaboration which is coherent with the
    significant future developments that I want to give to the Alaia
    brand.?


    In March 2006, Prada sold the troubled Helmut Lang fashion house to
    Link Theory Holdings of Japan. That deal brought to an end a year-long
    search to find a buyer for the house of Lang, that began almost
    immediately after the designer walked out the business in January 2005.



    The sale of Lang came less than one month after Prada unloaded Jil
    sander to London-based equity fund Change Capital Partners for an
    estimated 100 million Euros.


    The latest divestiture, brings to an end Bertelli?s dreams of
    building a major luxury group. Bertelli ended up in continuous disputes
    with Lang and Sander, both of whom eventually walked out of the houses
    they had founded. His parting from Alaia was, on the contrary,
    amicable, and their continued partnership seems one likely to develop a
    significant business.


    In the past year, while still backed by Prada, Alaia had opened a
    futurist marble shoe boutique designed by Marc Newson in his Marais
    complex. A go-to destination, for the world?s least derivative
    designer.




    Fashion is a form of ugliness so intolerable that we have to alter it every six months - Oscar Wilde

    StyleZeitgeist Magazine
  • laika
    moderator
    • Sep 2006
    • 3787

    #2
    Re: Alaia buys back his business from Prada



    Absolutely fantastic news! [65]



    Does anyone know the technical difference between a "luxury company" and designer's company? Is it just the the way they are structured? [*-)]

    ...I mean the ephemeral, the fugitive, the contingent, the half of art whose other half is the eternal and the immutable.

    Comment

    • Faust
      kitsch killer
      • Sep 2006
      • 37852

      #3
      Re: Alaia buys back his business from Prada

      [quote user="laika"]

      Absolutely fantastic news! [65]



      Does anyone know the technical difference between a "luxury company" and designer's company? Is it just the the way they are structured? [*-)]



      [/quote]



      I think the journalists use these words as synonyms.

      Fashion is a form of ugliness so intolerable that we have to alter it every six months - Oscar Wilde

      StyleZeitgeist Magazine

      Comment

      • laika
        moderator
        • Sep 2006
        • 3787

        #4
        Re: Alaia buys back his business from Prada

        But no one would call Dries Van Noten a "luxury company," right? When I think luxury, I think Hermes, Louis Vuitton, Gucci, etc. I thought I heard someone differentiating the two recently but I can't recall where.
        ...I mean the ephemeral, the fugitive, the contingent, the half of art whose other half is the eternal and the immutable.

        Comment

        • Faust
          kitsch killer
          • Sep 2006
          • 37852

          #5
          Re: Alaia buys back his business from Prada



          [quote user="laika"]But no one would call Dries Van Noten a "luxury company," right? When I think luxury, I think Hermes, Louis Vuitton, Gucci, etc. I thought I heard someone differentiating the two recently but I can't recall where.
          [/quote]



          Maybe not. Still, I don't think there is a big differentiation in the world of journalism, simply because they don't dwell on these things. Fashion = luxury, a popular myth.

          Fashion is a form of ugliness so intolerable that we have to alter it every six months - Oscar Wilde

          StyleZeitgeist Magazine

          Comment

          Working...
          X
          😀
          🥰
          🤢
          😎
          😡
          👍
          👎