Catherine Malandrino acquired by Bluestar Alliance
The American brand founded by French designer Catherine Malandrino has signed an agreement to be acquired by Bluestar Alliance. Founded in 1998, Catherine Malandrino is also backed by Elie Tahari and Arthur Levine, who will now become minority stakeholders following the deal. Catherine Malandrino herself also still owns a small stake in the company, according to the U.S press.
Specialised in mid-range brands (the group owns Kensie and Kooba), Bluestar Alliance has made no secret about its desire to position its portfolio as more up-market. With the acquisition of Catherine Malandrino, the group will its first steps into the premium sector.
The Grenoble-born designer began talking with Tahari and Levine - who came on board as investors in 2011 – about the need for a further investment in order to expand the brand’s presence early on this year.
With three stores in the United States and a recently-closed Paris location, opening further stores is high on the list of priorities for the new owners.
Copyright © 2022 FashionNetwork.com All rights reserved.