2010 June 7
BCBG Max Azria Group Buys Karstadt Department Store
(NEW YORK) Almost exactly one year after filing for bankruptcy, German-based Arcandor appears to have found a buyer for its best-known retail name: Karstadt, a department store with 90 locations across the country. The buyer? None other than BCBG Max Azria Group, which has reportedly partnered with Berggruen Holdings to buy the company. Several bidders have emerged in the last few months, with Berggruen considered a front runner alongside private equity investor Triton and real estate consortium Highstreet, led by Goldman Sachs. According to German newspaper Bild am Sonntag, Berggruen’s strategy is to pay $85 million and invest another $286 million over the next three years. It is unclear at this point what role the BCBG Group will play in the acquisition. Brands under the BCBG Max Azria Group include Max Azria, Hervé Legér, BCBGeneration, Max Rave, Max and Cleo, Manoukian, and Miley Cyrus & Max Azria.
Harper's Bazaar en français? Indeed! The title is launching a French edition, as a joint venture between Hearst Magazines International and Groupe Marie Claire. The French iteration...
Marni Golden, formerly editorial director at StyleCaster, has been named entertainment director at Allure...Liz Doupnik, formerly fashion editor for StyleCaster, has been named fashion...
Another John Galliano interview might be in the works. The man hasn't spoken to the press since an apologetic announcement after his famous incident, but Galliano still continues to...