High Street Garment Group Is A Step Closer To Bankruptcy And Selling Brand.

Mike Shearwood, chief executive of Karen Millen, the British clothing brand, has withdrawn from the board of Aurora Fashions group, making the high street clothing group a step closer to bankruptcy and selling brands.

　　 Aurora group It is the second largest fashion group in the UK. It has some of the largest high street clothing chains in the UK, including the women's clothing brand Oasis, the high street clothing brand Coast and the clothing brand Warehouse established in 1976.

Originated from the British clothing brand Karen Millen in 1984, Karen Millen was separated from the group in 2012, and now Mr. Shearwood also withdraws from the board of Aurora group, which allows him to initiate a comprehensive acquisition. Lane Bryant 。 Most of the Aurora group's shares are owned by Kaupthing, a bank of Iceland, but it is currently in operation. bankruptcy The group makes it easier to sell some personal brands to new investors.

Although in 2012, when the brand broke away from the group, Mr. Shearwood, chief executive of Aurora, remained in the directorship. But according to fashion headlines, the company's documents show that in late November, Mr. Shearwood's term as director of Aurora Fashions group has expired. Now the news that Aurora group is about to go bankrupt will stimulate potential buyers' interest in the final stage.

However, from September to October, mild weather inhibited people's demand for winter clothes and made clothing retailers have a pile of backlogs that they could not sell. The brands of Aurora group might have experienced a challenging Christmas.

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Bluestar Alliance LLC, which owns many brands such as Catherine Malandrino, got the recommendation from the investment bank The Sage Group LLC in 2013 and negotiated with Nanette Lepore. The two sides bargain after a year and a half, and finally completed the transaction on the first Monday of 2015, making it the first acquisition in this year's fashion industry. Nanette Lepore and its Nanette Lepore brand chief executive's husband Robert Savage and Bluestar Alliance LLC will share the intellectual property rights of Nanette Lepore brand. In terms of ownership, the brand will be held by the company, and I will retain a few rights, and the details of other transactions will not be disclosed.

Nanette Lepore started its business in 1992 from its father's $5000, and now has multiple lines of sportswear, swimwear, accessories and household products. It has separate stores in New York, Las Vegas, Boston and other places, and has opened 11 sales outlets in Tokyo. The brand is also working with J.C. Penney Company Inc. (NYSE:JCP) Penny department store to have L 'amour Nanette Lepore children's wear series.

Nanette Lepore hopes that with the expertise of Bluestar Alliance LLC, the brand can expand more categories through new authorization, and seek to establish more stores at home and abroad to increase its popularity. Nanette Lepore and Robert Savage will continue to operate the core high-end garment business under the brand's investment of Bluestar Alliance LLC. Bluestar Alliance LLC will focus on brand management and other extension areas, and build the brand into a lifestyle brand.

Bluestar Alliance LLC was founded in 2007 by Gabbay Gindi and Ralph Gindi. It is a closed-end private equity fund company with a capital scale of US $250 million. It has many intermediate consumer brands, such as Kensie, Mac+Jac, Joan Vass, Kooba, cable, cable, cable, cable, cable and cable. In August 2013, Bluestar Alliance LLC acquired Catherine Malandrino's brand and IP assets.