Word: partnerized
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Good management like that, something relatively new to the fashion business, is what draws investors in. "That's probably the No. 1 criterion for any private-equity investment," says Philippe Franchet, a partner at L Capital, explaining why they invested in the low-profile Piazza Sempione brand. "The management team is brilliant." Translation: it has a manager with a good production record and a solid business plan. When Enrico Morra, managing director of Piazza Sempione, and the company's founders met with L Capital's partners, they outlined exactly what they wanted to do, including opening more stand-alone stores...
Private-equity cash allows a small company to expand worldwide quickly and strategically. "It's not just an injection of money," says Morra. "They're a sparring partner, someone to sit down to discuss, 'Do we have to open on Madison Avenue or in the meatpacking district?'" He partnered with L Capital because its advisers knew how to get handbag and shoe lines up and running, something that could help Piazza Sempione avoid missteps...
...financial pages. An Italian financial daily compared cash-flow data and estimated growth potential and proclaimed Diesel the top candidate among Italian fashion companies for a public offering. Published reports in Europe had Diesel scooping up designers Sophia Kokosolaki and Viktor & Rolf, recalling the Margiela acquisition. Goldschmied, the former partner who remains a Rosso confidant, predicts something big is in the works. "Finally, finally, he has made a very important strategic decision. He could be the owner of a group that's a leader in the next wave of fashion...
...Azria was looking for a design partner. A mutual friend sent Azria's way a Ukrainian-born former ballerina who had attended Los Angeles' Fashion Institute of Design and Merchandising and had worked for several small designers but was considering leaving fashion for her other passion, art. Her name was Lubov. "In the interview he asked me one question: Are you global, or are you detail oriented?" she says. "I said, 'The latter.' And he said, 'Great, you're hired because I'm global.'" Soon Azria asked Lubov another question. "He asked me to marry him after a shopping trip...
...University of Nancy before attaining the classical educational polish of the French political élite: a degree from the Institut d'Etudes Politiques de Paris ("Sciences Po") and another from the Ecole Nationale d'Administration (ena), where her class included the current Prime Minister, Dominique de Villepin, and her partner, Hollande. They met there in 1978 and had their first child...