VF Sells Majority Stocks
VF Sportswear Inc., a subsidiary of VF Corporation, sold a majority ownership interest of John Varvatos Enterprises Inc. today for an undisclosed amount to Lion Capital LLP, a leading investor that’s backed brands like Jimmy Choo, American Apparel, and AllSaints. The deal is slated to close in the second quarter of 2012. VF remains mum on the terms and conditions, but did reveal that designer John Varvatos will retain a minority share in the company and continue in his current titles as chairman and CEO.
“It was important to us that the John Varvatos brand’s new partner had the experience to continue to support John’s exceptional vision and the brand’s growth potential,” Eric Wiseman chairman, president and CEO of VF Corporation, said in a company statement. “We are pleased to place this great brand in such good hands.”
Jean Paul Gaultier Loves Diet Coke
Jean Paul Gaultier has just been named the creative director at Diet Coke. JPG will create a limited-edition collection of bottles and cans and develop online content, retail concepts and ad campaigns across Europe. He also stars (with puppets!) in three short films on YouTube entitled “The Night & Day Serial Designer,” which launched yesterday. You can watch the short below!
– Taneisha Jordan
Source: Fashion Daily; YouTube