The name Karl Lagerfeld seems to be on everyone's lips these days. The legendary designer's camp has been busy all week covering up frantic rumors that the designer will soon retire from heading up the house of Chanel. For the moment, it appears the label is safe. Perhaps to distract his adoring public from worrying, Lagerfeld himself even sat down with Vice magazine for a rare (and candid) one on one interview in which he admits to faxing Anna Wintour, admiring porn and never voting for anything.
Today The Kaiser made headlines again, but for various business-related reasons. First, it was announced that Karl Lagerfeld SAS, a wholly owned subsidiary of Tommy Hilfiger Group
since 2005, will not be part of Phillips-Van Heusen’s $3 billion acquisition
of Hilfiger’s company and is instead remaining with private equity firm Apax. The businesses, which consist of Karl Lagerfeld Collection, Lagerfeld’s men’s collection, Karl Lagerfeld Eyewear, and Karl Lagerfeld fragrance and beauty, were sold to Apax and made private with the Tommy Hilfiger Group in 2006. With cost-cutting and the current recession cleaning out many fashion labels, the Hilfiger group had to be acquired, but Apax is not as keen on giving up the Lagerfeld name. “We didn’t sell it along with the business,” Stahl said. “We’re going
to take it out at the closing and put it into a separate company that
we’ll continue to own. We believe it’s one of the best designer brands
in the world, and we will put new management in place,” Christian Stahl, partner in Apax, told WWD.
Lagerfeld himself couldn't be reached for comment regarding the status of his empire. Yet he has seemingly been busy expanding it, as news just broke of a partnership between himself and accessories brand Hogan. A $350 million brand under Tod's Group, Hogan has been able to maintain a strong business holding with shoes and handbags, though has struggled in the apparel division. Lagerfeld's reps confirmed today that he has teamed up with the label to collaborate on a one-off apparel collaboration for spring-summer 2011. Luckily for them, no one can seem to get enough of The Kaiser.
Article Source: WWD
Photo Source: NY Mag
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