Connect with us

Style

Trussardi Acquired by Quattro R

Published

on

Trussardi

Italian luxury brand Trussardi known for its fine production of leather goods has been reportedly acquired by private equity firm Quattro R, according to Pambianco.

Quattro R will own an 80 percent stake in Trussardi which estimated to around $57.1 million.

After over four centuries, the founding family will pass over the brand to Quattro R, which was established in 2015, who focuses restructuring Italian companies plagued with financial hardships. The firm is backed by lender Cassa Depositi e Prestiti (CDP) and pension fund Cassa Forense.

Pambianco also reports, Trussardi’s chief executive Tomaso Trussardi will hold the remaining 20 percent stake in the company. Tomaso’s sister Gaia Trussardi will no longer be a shareholder of the company, while shares belonging to Tomaso’s mother Maria Luisa Gavazzeni will be diluted. Meanwhile, managing director Massimo Dell’Acqua will be leaving his post, and the new management team will be announced when the deal closes in March.

In 2015, Trussardi received a 51.5 million euros (around $58.8 million) loan from six local banks and stipulated a capital increase of 5 million euros (around $5.7 million), soon followed by the shuttering of the house’s diffusion line Tru Trussardi. In April, Trussardi was hit by the unexpected resignation of Gaia Trussardi from her role as creative director, per BOF.

Trussardi currently operates 177 boutiques and over 1,500 points of sale in 47 countries worldwide.

Facebook Comments

Sports

Steph Curry gifts 30 people who shaped his career custom kicks ahead of game 3

Published

on

Under Armour

After nearly 50 seasons at Oracle Arena in East Oakland, Steph Curry and the Warriors are headed to the Bay Area next season in their new Chase Center home inside the Mission Bay neighborhood of San Francisco.

As a farewell to his Oakland crew, Curry gifted 30 individuals who he says helped shape his career with custom black-and-yellow, Under Armour sneakers, including the team’s security. The kind gesture was paired with a note attached from the NBA star.

“It’s been my pleasure to represent the town the last 10 years. Through the ups and downs, the city always had my back. The energy was electric night after night. The passion was unmatched. The support was unending. For years, you literally had my back. No matter how big and wild this crowd got, I knew with you around, I was good. I will always be grateful for you and every other person in the Bay who put on for Dub Nation. The arena might be moving, but a huge part of my heart will always stay in Oakland. Steph Curry.”

“It seems like everything we’ve put out this year, like ‘The Town’ colorways, has been a part of my story or something about Oakland,” Curry told The Undefeated. “It has the city of Oakland’s name across it. I was hoping for something iconic that could capture a moment as we wind down our last days at Oracle.”

Curry and the Warriors will host Game 3 of the 2019 NBA Finals against the Toronto Raptors tomorrow night (June 5) at Oracle Arena. Curry reportedly plans to wear the “Thank You, Oakland” footwear for the remainder of the series.

Facebook Comments

Continue Reading

News and Politics

Beyoncé passes on Reebok partnership over lack of diversity

Published

on

Daniela Vesco/Invision for Parkwood Entertainment/AP Images

Some people talk about diversity in the workplace and others actually make it happen. In Beyoncé‘s case, she want’s no part of any business establishment that doesn’t reflect the real world.

Queen Bey, 37, reportedly passed on a Reebok partnership before inking a deal with Adidas over the brand’s lack of diversity, particularly with people of color, according to ESPN editor Nick DePaula.

“Throughout this process over the last year or two, she had discussed with Under Armour, with Reebok as well, Jordan [at Nike] at one point was interested in maybe partnering with her,” DePaula shared with hosts of ESPN talk show “The Jump,” “She had a meeting at Reebok and they had a whole presentation of everything, potential products, how this could all look, and she kind of took a step back and said, ‘Is this the team that will be working on my product?’”

“Somebody said, ‘Yes,’ and she said, ‘Nobody in this room reflects by background, my skin color and where I’m from and what I want to do,” he said. “So she took a step back and left and then it did not come to terms.”

“For her, it really goes beyond that. It’s not just about putting her name on a shoe and here’s the new Adidas Beyonce 1, or whatever they end up calling it. It’s about having an imprint on the company and an impact in terms of diversity,” Depaula concluded.

Continue Reading

Style

Gucci taps Dapper Dan to head $5M diversity and inclusion initiative

Published

on

Gucci

Another day, another high fashion brand calling on an influential person of color to dig its company out of a self-inflicted slump.

Gucci has called on respected fashion designer Dapper Dan to assist the style house in rebuilding its image following a string of clothing releases plastered with racist imagery, specifically targeting the Black community.

View this post on Instagram

#GucciChangemakers. ⁣Even more changes to come. #Harlem

A post shared by Dapper Dan (@dapperdanharlem) on

Among the controversial prints that caused an uproar was a blackface sweater spotted on the catwalk during New York Fashion Week in February.

Gucci

In response, Gucci execs have teamed up with Dan to orchestrate Gucci Changemakers, which provides a platform for emerging, urban designers seeking to break into mainstream fashion.

The $5 million fund will partner with other not-for-profit organizations around the country in cities like Miami, Atlanta, New York, Washington D.C., Houston, and L.A. to ensure its impact.

Facebook Comments

Continue Reading

Trending

Please wait...

SUBSCRIBE TO OUR MAILING LIST

Want to be notified when articles are published? Enter your email address and name below to be the first to know.