French menswear-focused media and e-commerce group MenInvest has acquired London-based online retailer Oki-ni for an undisclosed amount. Oki-ni co-founders Charles Perez and Ben Banks will join MenInvest as shareholders and advisors. “This acquisition… is a key piece of our growth strategy to reach €100 million in revenue by 2016,” said Marc Ménasé, MenInvest founder, who plans to position Oki-ni at the top end of its spectrum of holdings. “This operation also fits into our international expansion strategy. In fact, since the beginning of the MenInvest story, we always had a global project — global from a team and customer standpoint. Oki-ni taking part of MenInvest gives us a good booster to roll out our plan. On top of that, Oki-ni brings a different way to treat the designer segment, which is something important for our growth.”
Source; Business of Fashion.
The chairman, controlling shareholder — and lodestar — of the world’s second-largest luxury goods group, Compagnie Financière Richemont SA is taking a yearlong break beginning in September. Rupert revealed his decision as the company posted a 30.2 percent increase in net profits to 2.01 billion euros, or $2.59 billion, in the 12 months to March 31.
The controversial seminar John Galliano had been scheduled to teach at Parsons has been canceled, the school announced late Tuesday. The class had been canceled because of a petition against the class purportedly led by students, Parsons spokeswoman Deborah Kirschner told The New York Times’s Eric Wilson, “We could not reach consensus with Mr. Galliano on the conditions of this conversation, and the program could not move forward.”
