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Renzo Rosso doesn't sleep. He owns Margiela, and now this - I hope it works out.
Diesel Boss Rosso Acquires Control of Kokosalaki
Godfrey Deeny
January 08th, 2007 @ 2:54 PM - Paris
Renzo
Rosso, the entrepreneur who founded Diesel, has bought control of yet
another important young fashion house ? Sophia Kokosalaki.
Rosso?s investment wing Staff International, which previously
bought a controlling interest in the avant-garde designer Martin
Margiela, has acquired a majority stake in Kokosalaki, the most
important designer to emerge in London this century.
Through Diesel, the Italian businessman also controls a blocking
minority stake in DSquared, the hot Milanese label created by Dean and
Dan Caten.
?Due to these acquisitions, a plethora of well-known designers have
contacted the group driven by Rosso to discuss potential forms of
collaboration and support. However, Mr. Rosso has chosen to focus on
the research and development of young talents with incredible depth -
often against the mainstream ? in order to realize their and his vision
of the future of fashion,? Staff International argued in a press
release.
No terms for the acquisition were announced but given the fledgling
nature of Kokosalaki?s business, the investment would not be a major
sum.
The Greek-born, London-based designer will debut her new
partnership in March with the 2007 Fall/Winter fashion shows in Paris.
The deal will not effect the designer?s position at Vionnet, where she
was appointed Creative Director in 2006, a partnership she plans to
continue.
?I?m very excited about this new partnership, I admire and consider
Renzo a great business person... I have a clear vision about the future
of my brand and I?m more than confident that with Staff?s support and
expertise I will get the perfect balance between growth and independent
creativity,? Kokosalaki said in the same statement.
Stressed Rosso: ?I believe that part of my mission is the search
for young promising talents outside of the ordinary. I have never made
any acquisition only to increase the profit of the group, but
exclusively because I am passionate about the art and sensibility of
certain designers, and in the process of their development project,
which results in success. In Sophia, I have found someone who is able
to communicate emotions via her creations, and knows how to develop
alternative fashion for today?s woman.?
Staff International has beefed up its production facilities in the
recent past, picking up a high-end Italian manufacturing company and
also adding a new internal department for leather goods, used in the
Martin Margiela accessory collections. Staff International total turn
over surpassed 110 million Euros in 2006.
Born in Greece, Kokosalaki studied Greek and English literature at
the University of Athens, before graduating from the prestigious
Central Saint Martin, London. In 1989, she launched her first own
women?s fall/winter collection, immediately winning rave reviews for
her inventive tailoring, unique sense of proportion and heroic
attitude, in a word Hellenic modernism.
Sophia has won numerous awards - Best New Designer 2001, Art
Foundation Award for Fashion 2002, Best New Generation Designer 2003 at
the British Style Awards). She was also chosen by her home country to
create the costumes for the opening ceremony of the 2004 Olympic Games
in Athens.
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