Nanette Lepore Agrees To Sell Most Of Its Shares.

Nanette Lepore finally said, "I will." The sportswear designer has agreed to sell her majority stake to Bluestar Alliance LLC, marking the first M & a deal in the new year.

Since 2013, the two sides have been negotiating. Bluestar and Lepore have introduced the transaction initiated by The Sage Group LLC, which is a boutique of investment banking in Losangeles. The two sides refused to disclose the deal, which is expected to end today.

Lepore, now 51, says it's time to raise her 22 year business to a new level. "With the international experience of Bluestar, we look forward to expanding the brand of Nanette Lepore around the world," she said. The designer expects that the joint venture agreement will generate a larger brand exposure by licensing new categories, marketing, and stores opened at home and internationally. Lepore and her husband, CEO Robert Savage, will have a majority stake in her core garment business.

"We love Nanette," managing partners and chief operating officer of Bluestar. Ralph Gindi Say. "We think she has great significance today. This is a first-rate brand that is consistent with our current portfolio. We have the best partners. " Bluestar will own the intellectual property rights of Lepore, together with Lepore and Savage. Bluestar has a large business, but Lepore has "a good part," Gindi said. He said Lepore wanted to spend time looking for suitable partners. "We believe she is an integral part of our business. She retained her entire operation team.

"We have been discussing this," he said. "It takes time to complete the transaction." You must understand each other. Everyone has different goals and aspirations. You have to make sure what we think is resonating. " She is known for her bold colors, lively prints and feminine silhouette. Lepore is a staunch supporter of Save the Garment Center movement. She worked hard to protect the clothing centre in New York, helping to raise awareness and expand the demand for clothing made in the United States.

Erwin Isman, managing director of MMG consultancy, acted as Lepore financial adviser in the transaction. He said: "the new strategic partnership between Nanette Lepore and Bluestar alliance will expand the brand Footprint of Nanette Lepore's name. Nanette Lepore and Bob Savage will continue to manage Core Company, while Bluestar focuses on the development and extension of brands. The sustained growth of our forecast in various fields. "

According to Gindi, the goal is to build Lepore into a lifestyle brand and add personal clothing, home, fragrance, handbags and shoes. He said that some of the products were part of her series, but now they will be fully developed through authorization. "Many designers like to build it themselves, but we find that the best and suitable partners will work with designers. A company can not handle all this. We want to dress up Nanette customers from head to toe, including sunglasses, coats and so on. Lepore does not focus on these categories. Now, she has a partner who will take the time to do it, "Gindi said. We believe that she can resonate in the country. Bluestar will make her name known to the world. "In 24 to 36 months, we will have sufficient brand representatives," he added.

Bluestar is a brand management company founded by Joseph Gabbay and Gindi in 2007. This is a closed equity fund with a US dollar commitment of US $2 million 500 thousand. These partners own, manage and sell. Consumer brand It includes Catherine Malandrino, Kensie, Mac & Jac, Yak Pak, Joan Vass, Kooba, English Kooba, and Jac. Bluestar strategy It is through authorization scheme to establish brand and consumer recognition. Since its inception, Bluestar has acquired over 1 billion 500 million US dollars in retail sales and brand names. The brand's portfolio currently manages more than 200 licensed products worldwide.

Born in Youngstown, Ohio, Lepore started her business in 1992, when she got a loan of 5000 dollars from her father. Her inspiration comes from her artistic childhood and passion for parties in Bohemia. She started in a small shop in East Village and made clothes in several small factories in the clothing center. Today, the company sells clothing to retailers including Neiman Marcus, Bloomingdale 's, Saks Fifth Avenue, Nordstrom and Macy' s. Lepore's design celebrities have gone through, for example, Michelle Obama, Nicki Minaj, Taylor Swift, Abigail Breslin, Sofia Vergara, Breslin and Abigail. Last month, New York's first lady, Chirlane McCray, wore the designer's Skyscape coat to meet the Duchess of Cambridge.

The company's products include sportswear, swimwear, accessories and household goods. There are stores in New York, Las Vegas, Paul, Habo, Florida and Boston, as well as 11 branches in Japan. The designer also has a young line in JC Penney, called L amour Nanette Lepore. Lepore and Peking Handicraft have a furniture agreement to help designer bedding, gift pillows and blankets.