2013 August 6
Catherine Malandrino Sells Majority Stake to Bluestar
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(NEW YORK) Catherine Malandrino is getting in on the licensing game thanks to Bluestar Alliance LLC, which recently acquired a majority stake in her brand at an undisclosed price. Elie Tahari of Elie Tahari Ltd. and Arthur Levine, president of Tahari ASL, remain minority investors in the company, but Bluestar was brought on board to grow the business even further. Bluestar was founded in 2007 by Joseph Gabbay and Ralph Gindi and their portfolio of brands currently includes: Kensie, Mac + Jac, Joan Vass, Kooba, Yak Pak, English Laundry, Hot Kiss, First Kiss, and Harvé Bernard.
The purchase of the Catherine Malandrino brand is Bluestar's first step to assemble a higher-end portfolio of brands. Bluestar is known for building labels through strategic licensing agreements that fit the profile of each company. Malandrino's label generates about $25 million wholesale, while her diffusion line is somewhere between $15 million and $20 million. We think we smell a cash cow perfume license on the horizon, don't you?
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