|Versus Hires Jonathan Anderson
November 29th, 2012 @ 11:04 AM
Cacharel Unveils New CEO, in Major Corporate Revamp
November 21st, 2012 @ 00:56 AM
Kane Drops Out of Versus in Major Shake-up
November 20th, 2012 @ 10:14 AM
Pucci’s Madison Avenue Store Debuts Massive Expansion
November 16th, 2012 @ 00:35 AM
Ghesquière Departs Balenciaga in Major Surprise
November 05th, 2012 @ 00:43 AM
Sao Paulo Fashion Week: Between Optimism and Fear
November 02nd, 2012 @ 00:28 AM
London Unveils Men’s Season Schedule
November 01st, 2012 @ 00:36 AM
Azzaro Releases Castello Branco
October 25th, 2012 @ 00:18 AM
Revenue Soars 22 Percent at LVMH in First Three Quarters
October 16th, 2012 @ 00:18 AM
Rykiel Names Geraldo da Conceicao Artistic Director
September 21st, 2012 @ 8:12 PM
Brazil’s New London Pop-Up
September 21st, 2012 @ 7:20 PM
McQueen Men Returning Home to London
September 12th, 2012 @ 7:19 PM
Roitfeld, Mum and Son, Open in Brazil
September 07th, 2012 @ 00:54 AM
Berluti Opens to Big-Time Business in London
September 06th, 2012 @ 3:27 PM
Stefano Pilati Back with a Bang at Zegna
September 05th, 2012 @ 7:10 PM
Hugo Boss Wows in Berlin, Plans for New York
July 06th, 2012 @ 00:17 AM
Salvatore Ferragamo: Crusin’ the Louvre
June 13th, 2012 @ 11:04 AM
Michel Klein Gains New Backer; Launches Sunglass Collection
June 13th, 2012 @ 00:48 AM
Sykes Jettisoned by Aquascutum; Maurer In at Rabanne
June 06th, 2012 @ 00:18 AM
Armani Conquers China, Chastises the Pope
June 01st, 2012 @ 11:53 AM
Japanese/Chinese Bank Buys Stake in Costume National
April 22nd, 2010 @ 12:42 AM - Paris
Sequedge, a Japanese-Chinese merchant bank, has acquired a 17-percent stake in Milan fashion house Costume National, along with an option to double its holding by the end of next year.
Sequedge acquired the stake from Ennio and Carlo Capasa, the two brothers who founded Costume National two decades ago.
The deal comes after recent rumors that Costume National – a mid-sized Milan runway label – had been actively searching for a deep-pocketed investor after being heavily hurt by falling sales in the current downturn.
“We were impressed by the utter modernity of Sequedge, a company integrating the best financial investment skills with the availability of advanced financial technologies and a great ability to develop the participated business,” the Capasa brothers said in a statement.
Terms of the deal were not released.
With Ennio Capasa in charge of creative design and brother Carlo overseeing operations, Costume National has been a critically acclaimed fashion forward business, which stages its women’s runway shows in Paris, while the men’s collections are shown in Paris.
“It’s a strategic alliance, in a long-term project, where fashion and finance work together in an advanced way,” insisted the brothers.
The deal will help fund expansion in Asia, where Costume National has lagged behind other larger Milan fashion houses. The company now plans to open flagship stores in Hong Kong and Tokyo this year, adding to a retail chain that already includes flagships in Milan, Rome, Paris, New York, and Los Angeles.
The deal marks a significant step for Sequedge, a Hong Kong-based firm, which notes in its release that it has been “also socially very active, having founded in Japan the largest nursing home complex in the country.”
Established in 1986, Costume National today boasts accessories and footwear collections and an avant garde “street-couture” line C’N’C aimed at younger consumers, plus eyewear and fragrance lines for men and women, both produced under license.
“As a customer, I have loved wearing Costume National for more than ten years as the brand keeps on creating the best fashion forward garments staying true to its original philosophy, while many other brands change their style completely to please popular taste,” commented Sequedge CEO Kazunari Shirai.
The Capasa brothers, who own the remaining shares in Costume National, will retain their positions within the company. They predicted that annual turnover will grow to 200 million euros, or $265 million at current exchange rates, within three years.
“We are firmly committed to support not only financially but also in the strategic planning and business development in Asian countries. I am sure that the collaboration between Costume National and Sequedge will achieve a new concept of fashion brand,” added Shirai.