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Oscar de la Renta Sells Minority Stake to Foot Bill for Footwear, Handbag, and Fragrance Expansion


>> Oscar de la Renta
quietly sold a stake — said to be around 20 percent — to GF Capital Management & Advisors (whose portfolio also includes Jonathan Adler) for an undisclosed amount last Summer. The company's decision to bring beauty and fragrance back in-house, as well as open more stores and introduce new categories, was the impetus for seeking outside investment.

“We believe that now is the time to bring new products to the market in a responsible way and to broaden our presence in geographical areas where we are underrepresented," de la Renta CEO Alex Bolen said. "We are very bullish about our business and the luxury business in general in the near term.”

The company plans to introduce two women's fragrances this year, and an in-house handbag team is in the process of being formed, Bolen says, “with people who know almost as much about making handbags as Oscar knows about making clothes.” Last October, two accessories editors were hired as part of the company's plan to turn its footwear business into a $50 million entity within the next three to four years.

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