October 23, 2014

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Prada & Luxembourg-based Gipafin Sàrl to Merge

Screen Shot 2014-10-22 at 6.59.37 PMChanges are coming to Prada, on the business side of things, at least. Prada Holding, the Italian group that owns luxury labels Prada SpA and Miu Miu, will merge with its Luxembourg-based owner, Gipafin Sàrl in an attempt to simplify the group’s control structure. According to the South China Morning Post, upon the consolidation, which is set to be completed by December, Prada Holding (which currently holds an 80% in the company) will cease to exist and Gipafin Sàrl will be renamed Prada Holding Sàrl. Prada announced this today in a statement to the Hong Kong stock exchange, where its shares are listed. The statement further held that the consolidation of the two companies will not affect the Prada group’s operations. The announcement comes on the heels of a recent statement from the Milan-based design house that it is, in fact, under investigation for tax evasion. Italian prosecutors are investigating past individual tax filings of Prada SpA’s CEOs, Miuccia Prada and Patrizio Bertelli, making the two fashion executives the latest target of a government probe in the country.

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Casting Prada: Can Any House Really Compete?

In terms of casting models, Prada (and its little sister brand, Miu Miu) may not be a pioneer in the way that say, Raf Simons is, as the Belgian-born designer quite famously started street casting his models from local Antwerp hang outs in the mid-1990′s. The result was a noticeable shift in aesthetic; skinnier, younger, paler boys than the agency-represented models that we were accustomed to seeing. The Milan-based house under the direction of Miuccia Prada is also not a Givenchy. The Paris-based house and its creative director, Riccardo Tisci, and his casting team, are known for embracing a diverse notion of beauty (think: men (as opposed to boys) for S/S 2015, an array of ethnically diverse girls for S/S 2014, and transgender model, Lea T, for a handful of its shows and its F/W 2010 campaign). It is also not a Hood By Air, which notoriously casts even more unusual models, such as Boy Child. Having said this, Prada is the design house that comes to mind when thinking of new faces.

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The 2014 British Fashion Awards Nominees Are …

In the U.S. we have the annual Council of Fashion Designers of America Awards honoring the most exceptional talents in the fashion industry, and as you may know, the British Fashion Council has the British Fashion Awards. This year’s nominees have been announced ahead of the December 1st ceremony, and they really do demonstrate the exceptional talent coming out of London. Alexander McQueen and J.W.Anderson are leading the pack with two nods each, and also especially interesting: the International Designer category, which consists of Hedi Slimane for Saint Laurent, Nicolas Ghesquière for Louis Vuitton, and Raf Simons. See the rest of the 2014 nominees below …

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Nasty Gal Copied Céline, May Actually be Breaking the Law

Our friends over at Fashionista pointed out the latest in Nasty Gal’s design pirating ways, and this time, there is a chance it may actually be illegal. As Fashionista wrote, for Fall/Winter 2014, “Phoebe Philo sent models down the runway at Céline wearing a single large earring made from mixed metals and materials, including tassels, gemstones and antique-looking chains.” Now, a rather identical-looking earring is available for sale on Nasty Gal’s website (just the latest in a line of Céline-like accessories the Los Angeles-based retailer has co-opted in the recent past), and this instance is worthy of a bit of discussion. While most instances of copying are perfectly legal in the U.S., largely because copyright protection does not extend to garments in their entirety, that same body of law does, in fact, protect jewelry. So, what about the earrings here?

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Today: From Around the Web

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Jonathan Anderson: Wonder Boy … At 30, fashion’s can-do kid is taking the reins of a major European luxury house. – W

Listen up personal style bloggers, nobody Cares About Your Outfits. 75% of women surveyed were interested in reading recipes found on blogs, 61% of women were looking for health tips; 53% were looking for content related to the home, gardening, or DIY project; and 52% were looking for style tips. The only type of content that ranked low. – BizJournals via Racked

With celebrity models like Kendall Jenner and Cara Delevingne on the runways, fashion is generating a new level of household fame for itself. – i-D

Is Saint Laurent’s Gun Clutch Over the Line? – Purse Blog

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Mary Katrantzou x Adidas Originals is Pretty Great

We have a sneak peek at the Mary Katrantzou x Adidas Originals collaboration, which is set to hit stores and the web on November 15th …

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LVMH Set to Relinquish 23% Stake in Hermès

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image courtesy of le-21eme.com

On the heels of LVMH Moet Hennessy Louis Vuitton chairman Bernard Arnault’s statement that he will relinquish most of his 23% holding in Hermès, LVMH has filed a regulatory statement outlining how it will execute the divestment to shareholders. According to the statement, LVMH shareholders will get two Hermès shares for every 41 LVMH shares they own and LVMH will communicate the distribution at least four business days before it takes place. The Hermès shares will be valued at the opening trading price on the day of the payment, not exceeding 235.2 euros a share, valuing the stake at as much as $7.4 billion. This move will seemingly put an end a long-standing battle between the two luxury rivals (see a timeline of their many legal battles here). According to Reuters, “LVMH is distributing its Hermès stake to shareholders almost four years after it started building the holding without Hermès’s knowledge. The payment, due to be completed by Dec. 20, will leave Groupe Arnault, the family holding company of LVMH Chairman Bernard Arnault, with an 8.5 percent interest in Hermès.” More to come …

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One Day, Three New Chief Executive Officers for Kering

Not to be outdone by anyone today, Kering has confirmed the appointment of not one but three new Chief Executive Officers for its various houses today. The luxury conglomerate, which owns Balenciaga, Alexander McQueen, Gucci and an array of other high fashion brands, made its first confirmation this morning: Carlo Alberto Beretta, who has spent the past 11 years at Ermenegildo Zegna, will be taking over the CEO role at Bottega Veneta. A second announcement came ten minutes later; Sarah Crook has been appointed CEO of Christopher Kane. And in case that’s not enough, several hours later, Kering confirmed that Gianluca Flore is the new Chief Executive Officer of Brioni.

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