Skip Nav
Celebrity Style
7 Reasons Why Jackie Kennedy Is Still a Style Icon
Summer
Mary-Kate and Ashley Olsen Shed All Their Layers For 1 Special Piece
Summer
Lily-Rose Depp Styled Her Chanel Sunglasses With Your Old Favorite Gym Shorts

Prodos Makes Bid for Gianfranco Ferre; Brand Designers Tommaso Aquilano and Roberto Rimondi May Not Stay Under New Owners

Will New Owners Mean New Designers at Gianfranco Ferre?

>> Douglas Song, an executive at US private equity firm Prodos, which has emerged as the final bidder for Gianfranco Ferre, attended the label's fashion show on Friday. Prodos, together with Samsung, has made a binding offer of just more than €10 million ($13.5 million) for the brand, which went into bankruptcy protection last year. The Italian government is expected to make a final decision on the offer within two weeks' time.

It is understood that of the five bidders for Ferre since the auction process launched in June, Prodos and Samsung prevailed because of their deep pockets, vital for the expensive relaunch of the brand which has struggled since the death of its namesake designer three years ago. Already, Ferre has pulled out of many markets; in the US, only Bergdorf Goodman still sells it.

As part of the deal, Prodos has committed to keep the company's 150 employees; sources indicate the new owners also plan to open stores in Asia through franchise partners. As for the Ferre's current designers, Tommaso Aquilano and Roberto Rimondi, whose expensive designs place the brand in competition with the likes of Chanel, it is unclear whether they will stay.

As the Wall Street Journal wrote of the just-shown Spring 2011 Ferre collection: "The challenge for Ferre’s new owners will be to build up a new following for this tarnished house. They may need to start with less-expensive clothing than what was shown Friday." And Style.com noted: "In general, this collection didn't have the distinctive point of view you expect not only from these designers, but also from one of Milan's once major houses."

Around The Web
Join The Conversation
Ferre Reportedly Considered Hiring John Galliano
Fall 2011 Milan Fashion Week: Gianfranco Ferre
Samsung's Deal to Buy Gianfranco Ferre May Fall Through
Backstage Photos from Milan Fashion Week Spring 2011: Marni, Missoni, Emilio Pucci, Roberto Cavalli, Jil Sander, Giorgio Armani
Photos of Gianfranco Ferre Men's Spring 2011 Runway Show
Fashion in 50 Seconds 06/17/10 Peter Lindbergh Returns to Vogue, Rodarte Wins National Design Award
Milan Fashion Week: Gianfranco Ferré Fall 2010

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

From Our Partners
Latest Fashion
X