Valentino Fashion Group

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ITALY: Zignago Ditches Marzotto Bid After Protests just-style.com | 31 Oct 02

Italian holding company Industrie Zignago Santa Margherita SpA on Wednesday withdrew its takeover bid for clothing group Marzotto - owner of leading fashion labels Valentino and Hugo Boss. Both Zignago and Marzotto are controlled by the same family but following strong opposition from smaller shareholders who claimed Zignago's offer was far too high, the proposed $408 million deal fell apart.


ITALY: Marzotto Sees 2002 Sales Climb just-style.com | 14 Oct 02

Leading textiles and fashion group Marzotto on Monday reported a 3.1 per cent year-on-year slide in nine-month consolidated sales to 1.38 billion euros but said it sees a three per cent rise in 2002 consolidated sales.


ITALY: Zignago "No" To Hugo Boss Takeover just-style.com | 12 Sep 02

Italian holding company Industrie Zignago Santa Margherita SpA on Wednesday said it has no plans to take the reins at German fashion giant Hugo Boss despite launching a takeover bid for the label's owner Marzotto SpA. Zignago announced earlier this week it wants to buy Marzotto, which also owns fashion house Valentino, so it can achieve its target of creating an integrated drinks and fashion group.


Bandeau bras swell beachwear market just-style.com | 11 Sep 02

Bikini bottoms seemingly inspired by the ring costume of a sumo wrestler, and bandeau bra tops which could have stepped straight from a mural of the Minoan fashion current in 2002 BC, were among the more novel beach wear styles which made their debut at the 2002 Lyon Mode City trade fair.


ITALY: HdP Cuts H1 Loss To 45m Euros just-style.com | 11 Sep 02

Fashion-to-media holding HdP on Tuesday revealed a narrower first-half pre-tax loss of 45.3 million euros before tax and third party interests compared to a loss of 59.9 million euros in the year-ago period. The group, which sold fashion house Valentino to Marzotto for 240 million euros and is looking to sell sports wear unit Fila, said in a news release revenues slipped to 1.55 billion euros from 1.63 billion due to the sell-offs.


ITALY: Zignago Launches Marzotto Takeover Bid just-style.com | 9 Sep 02

Italy's Industrie Zignago Santa Margherita SpA on Saturday launched a takeover bid for fashion giant Marzotto SpA.


ITALY: Marzotto H1 Profits Slump 50 Per Cent just-style.com | 30 Jul 02

Leading Italian textiles and fashion group Marzotto has revealed its profits more than halved in the first half of this year as it was hit by the economic slowdown, Hugo Boss's troubles in the US and costs related to the acquisition of Roman fashion house Valentino.


ITALY: Valentino Enjoying Marzotto Relationship just-style.com | 25 Jun 02

Top fashion designer Valentino Garavani on Monday took time out from men's fashion week in Milan to dismiss rumours he may quit his famous label after it was acquired by fashion group Marzotto for $235 million. The couturier, whose contract is up for renewal in early 2003, told reporters he was happy to continue working for the company that made him a household name and was "getting on well with the people at Marzotto".


ITALY: Valentino Turnover Up, New Beach Line Planned just-style.com | 24 Jun 02

Italian fashion house Valentino on Saturday posted a 23 per cent jump in turnover for the first five months of the year compared to the year-ago period and said it expects turnover to climb five per cent for the full year.

Valentino chief executive officer, Michele Norsa, told a news conference the company plans to launch a new line of beachwear and underwear for spring/summer 2003, with sales seen as reaching 40 million euros in the first three years.


ITALY: Antitrust Chiefs Back Marzotto Valentino Buy just-style.com | 28 May 02

Italy's antitrust authority on Monday gave the green light to Marzotto's 240 million euro acquisition of fashion label Valentino from loss-making fashion and media group HdP. In a statement, the authority said it "has found that the operation being examined does not constitute or reinforce a dominant position in the markets at stake in such a way to significantly reduce competition".


ITALY: HdP - Talks On Fashion Unit Sales "Advanced" just-style.com | 14 May 02

Italian fashion-to-media holding group HdP today said talks over the sale of its fashion units under textiles holding GFT Net and sportswear group Fila are at an "advanced stage". HdP, which posted a first quarter net loss of $52 million, said Fila's net sales rose slightly while its operating profit climbed to 2.2 million euros from a net loss of 6.8 million in the year-ago period due to a major cost-cutting drive.


ITALY: HdP/Dada May Combine Online Assets just-style.com | 4 Apr 02

Italian fashion to media group HdP SpA and Internet firm Dada SpA said on Wednesday they are holding high-level talks about the possibility of combining their online assets. No further details were released yesterday, but the announcement comes just days after HdP sold its Valentino unit to Marzotto SpA as part of its plan to exit the fashion and textile industry.


ITALY: Marzotto Snaps Up Valentino For $211 Million just-style.com | 28 Mar 02

Italian textiles giant Marzotto yesterday ended months of speculation by agreeing to buy world-famous fashion house Valentino from HdP in a deal worth 240 million euros ($211m). Marzotto, which already owns a controlling stake in German fashion group Hugo Boss, said in a statement it would sell assets to fund its latest deal and expects to see Valentino back in the black within two years.


ITALY: HdP Eager To Sell Valentino Amid Huge Losses just-style.com | 26 Mar 02

Fashion and media holding group HdP on Monday posted a consolidated net loss of 232.1 million euros for 2001 compared to a net profit of nearly 40 million euros in 2000. The group said the 140 million euros restructuring charge for the planned sale of its unprofitable fashion holdings, including Valentino, were primarily to blame for the huge losses.


ITALY: Valentino Reveals Surge In Same-Store Sales just-style.com | 13 Mar 02

A senior executive of Italian fashion house Valentino on Tuesday revealed a 30 per cent surge in same-store sales since the turn of the year but remained tight-lipped over its possible sale to Italian textiles group Marzotto Speaking during the label's fashion show in Paris, Valentino managing director Fabio Giombini said: "Same-store sales are up 30 per cent in the first two months of the year. We are optimistic in terms of the future of the Valentino business. The market is improving, even in the US."


ITALY: Marzotto Close To Valentino Deal Claims Paper just-style.com | 8 Mar 02

An Italian newspaper on Friday claimed HdP SpA was close to agreeing a deal to sell fashion house Valentino to Marzotto SpA. Il Sole 24 Ore claimed Marzotto will pay about 250 million euros for Valentino, which was bought by HdP in 1998 for 270 million euros. The paper said an announcement on a possible deal could come as early as Friday but added that both parties denied there had been any developments regarding the sale.


ITALY: HdP Edges Closer To Fila, Valentino Sale just-style.com | 6 Feb 02

Italian media-to-fashion holding group HdP is edging closer to the long-expected sale of its loss-making Valentino and Fila units. Comments made to reporters by key HdP shareholder Cesare Romiti on Tuesday, however, shed little light on the details of the deal. "I believe we have it sorted out," said Romiti, the chairman of RCS, which owns Italian newspaper Corriere della Sera.


ITALY: Mariella Burani Buys Two GFT Companies For $3.2 Million just-style.com | 4 Feb 02

Mariella Burani Fashion Group SpA has bought retail companies Revedi SpA and Revedi SA from Holding di Partecipazioni Industriali SpA's GFT Net SpA for EUR3.7 million ($3.2m). Revedi SpA runs an Italian chain of 14 luxury clothing and accessories stores, while Revedi SA runs four similar stores in Switzerland. The combined 2001 full-year pre-tax profit for the two companies was EUR1.3 million on revenue of EUR29.3 million.


MALAYSIA: Bonia Eyes Men's Wear, Chinese Production just-style.com | 1 Feb 02

Leatherwear, footwear and accessories manufacturer Bonia Corporation Bhd will enter into the men's wear market at the end of next month when it completes its acquisition of Dominion Directions Sdn Bhd for RM11.6 million via a cash and share swap.


ITALY: Valentino May Be Sold To Marzotto Claims Paper just-style.com | 30 Jan 02

World-famous fashion house Valentino is set to be sold, with Marzotto SpA the most likely buyer, reports in a US trade magazine and leading newspaper suggested on Wednesday. Quoting a source close to Holding di Partecipazioni Industriali (HdP), parent company of the Italian fashion firm, the New York Post claimed high-level talks were taking place between the two parties.


ITALY: HdP Stays Silent On Fila Bid just-style.com | 12 Nov 01

Holding di Partecipazioni Industriali SpA (HdP) has confirmed that several interested buyers are eyeing its 72 per cent stake in loss-making sportswear maker Fila Holding SpA. But a spokeswoman for the company has refused to comment on reports in Il Sole 24 Ore saying that investment funds Bain group and the Continental group have teamed up to offer between $100m and $125m for Fila. The offer is reportedly conditional upon reaching a debt restructuring agreement with Fila's creditor banks.


ITALY: Bulgari-Backed Fund Buys Shoe Firm just-style.com | 30 Aug 01

An investment fund backed by Bulgari SpA has reached a deal to take control of Italian shoe and accessory group, Bruno Magli SpA. It has also revealed that it may be interested in buying fashion house, Valentino, from Holding di Partecipazioni.


ITALY: Valentino Sale Hits A Snag just-style.com | 10 Aug 01

Plans to sell loss-making fashion house Valentino to an investment fund have hit a problem. Opera, the Bulgari-led investment fund, does not want to repay a ITL239 billion loan made by Italian holding company HdP. The loan was made by HdP to Valentino management and HdP is insisting that the buyer takes on the loan.


SLOVAKIA: Svik Reports Pre-Tax Profit Of $98,000 just-style.com | 23 Jul 01

Slovak-Italian clothing manufacturer Svik, based in Svidnik, northeast Slovakia, reported a pre-tax profit of 4.8m Slovak crowns ($98,000) in the first half of 2001, down 37.66 per cent year-on-year. The company produces mainly men's clothes for Valentino and Calvin Klein.


ITALY: HDP Pressured To Sell Valentino But Price High just-style.com | 17 Apr 01

Holding di Partecipazioni Industriali SpA is facing shareholder pressure to sell Rome-based fashion house Valentino but the asking price of ITL700bn-ITL800bn is too high, said a source close to the company. HDP, the Italian fashion and publishing holding company, has held talks with both textile and clothing giant Marzotto (I.GMF)and luxury-goods label Gucci Group NV (GUC) about selling Valentino, the source told Dow Jones Newswires.


USA: Polo Ralph Lauren Names VP Of Licensee Development just-style.com | 17 Apr 01

Robbin Mitchell has joined Polo Ralph Lauren Corporation (NYSE: RL ) as vice president of licensee development. In this new role she will be responsible for new business proposals and licensee reviews, and reports to Doug Williams, group president, global business development.


ITALY: Prada And Marzotto Say No To Valentino just-style.com | 5 Apr 01

Italian newspaper Il Sole 24 Ore has reported that both Prada SpA and fashion group Marzotto SpA have ruled themselves out of the running to take on the fashion group Valentino from holding company HDP SpA. With both Prada and Marzotto out of the running it seems more likely that Valentino will be taken on by Gucci, although no official talks have yet been held between Gucci and HDP.


ITALY: HdP May Cut Fashion Businesses just-style.com | 26 Mar 01

Italian Holding di Partecipazioni Industriali SpA looks set to focus its efforts in publishing with the possible sale of its fashion and textiles interests which include the luxury goods group Valentino. As reported by just-style last week there have been rumours about a possible bid from Gucci for the takeover of Valentino and the comments made in several Italian newspapers over the weekend seem to confirm that the company is looking to move away from the textile industry.


ITALY: Gucci Would Favour Full Bid At Right Price - Press just-style.com | 23 Mar 01

Gucci Group management would favour a full takeover bid for the company at the right price, chairman and chief executive Domenico De Sole told Il Sole 24 Ore. De Sole said a final decision would be up to the group's shareholders - Gucci is 42 per cent-controlled by retailer Pinault-Printemps-Redoute SA (F.PPR) - and hopes the uneasy relationship with Louis Vuitton Moet Hennessy LVMH can be resolved this year. LVMH holds 20 per cent of Gucci.


NETHERLANDS: Gucci To Make $1bn Bid For Valentino just-style.com | 19 Mar 01

Rumours of Gucci's interest in HdP-owned Valentino are gathering force with newspapers claiming that Gucci boss Domenico de Sole is in talks with the Italian luxury goods group. De Sole is expected to bid $1bn (£680m) for the upmarket label. Sources said that HdP, which has denied that it is planning to sell Valentino, wants to concentrate its resources on the newly-rejuvenated Fila sports fashion brand. Fila has recently emerged as a genuine competitor to the European market leaders, Nike and adidas.

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