Peter Som Mauve Silk Organza Dress $2095 eLUXURY
According to the Wall Street Journal, NRDC Equity Partners which owns Lord & Taylor is near a deal to
invest in New York fashion designer Peter Som, according their sources. The deal is expected to be finalized
Compared to recent designer investment deals this one is small (expected to be less than $10 million ) however, it would represent an unusual
move by a department-store chain to invest directly in high-fashion
Terms of the deal between Peter Som and
NRDC aren’t yet finalized, and the negotiations could still fall apart. It is expected that the company that will be roughly
35%-owned by Peter Som Inc. and 65%-owned by NRDC, though the specific
percentages could change slightly.
Peter Som Radcliffe Coat $1865 eLUXURY
Interestingly, the department-store
chain doesn’t currently carry the Peter Som label, which is priced at
the highest-end designer level, with blouses in the $800 to $950 range,
and dresses generally $1,600 to $2,000 and up. This would lead one to belive Lord &
Taylor would likely get a right of first refusal on any lower-price lines Mr. Som
develops in the future.
Peter Som was named creative director of women’s apparel for fashion brand Bill Blass last month. Any deal he reaches with NRDC isn’t likely to
provide Lord & Taylor with first dibs on his Bill Blass looks.
By allowing the designer the ability to retain some
control of the brand, the deal means Mr. Som might be able to avoid
situations like those faced by a number of designers who lost control
of their namesake brands after disputes with new owners. Mr. Som didn’t
return messages yesterday seeking comment.
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Tags: Bill Blass