How many activist investors will bid to take Soho House private?
And how many investors are taking a serious look at Versace?
Hello and happy Friday everyone. I’m writing this from my living room in Milan, which I have turned into my filming set for the new style of videos I post on Instagram.
When I moved into this apartment, I was over the moon to have found something that fit the vision I had in my head to a tee: pattern parquet and terrazzo marble floors, extremely tall ceilings, original crown moldings and big windows letting in sunlight from the north and west. When I arrived in Milan, I learned about the Liberty style variant of Art Nouveau architecture from the early 1900’s, and have been observant of how the Italians have built environments rooted in art, juxtaposed against the harsh grey industrial origins of Milan.
The apartment is still far from being done in terms of furnishing, but it’s been a fun work in progress.
I am currently editing the “In The Room” interview with Peter Baldaszti, founder of Vanguards Group (Nanushka, Sunnei, Aeron), about building a fashion holdings company and am really excited to share our conversation. Thank you to all subscribers who submitted questions for this.
The next “In The Room” guest is Jenny Pham, co-founder of interiors brand Objects Are By and former CBO at Versace and Head of Global Brand Marketing & Communications at Adidas Originals. The conversation will focus on insights and lessons learned from luxury fashion & apparel marketing and building a new brand in Milan as an American. Please submit your questions in the comments section of this post, or in the Substack chat by this Sunday, Feb 2.
In today’s newsletter: Stella McCartney, Marco Bizzarri and Versace, Kering’s real estate portfolio, Golden Goose, Soho House’s take private deal, the loneliness epidemic, Jacquemus blatantly referencing other designers, creative director changes, and more
VISUALLY INTERESTING
This apartment designed by Giampiero Tagliaferri, which happens to be in Milan, is a total dream. See more photos on AD.
THE STANZA’S DEAL SHEET
Stella McCartney has bought back the 49% stake she sold to LVMH in 2019, but will still serve as sustainability advisor to Bernard Arnault. Prior to their partnership, Kering had previously owned a 50% in Stella McCartney’s namesake brand for 17 years. As much as I respect Stella McCartney, this seems more like a decision on LVMH’s part to exit the investment. There hasn’t been a hit bag or other accessory since the Falabella bag, and consumers aren’t overly keen on vegan leather. More notably, the sustainability ethos doesn’t fundamentally align with LVMH’s investment mandate to nurture multi billion dollar brands. I did notice that the prices for Stella McCartney has risen, but honestly it’s a bit too much. Why is this polyester taffeta dress $7,300?!