Manolo says, the Prada has finally sold the Jil Sander.
Prada Holding is parting with the German fashion house Jil Sander after an on-again-off-again relationship.
Change Capital Partners, a private- equity company headed by the former Marks & Spencer Group chairman, Luc Vandevelde, said Thursday that it was buying the clothier.
The sale ends several years of accumulated losses and personality clashes between Prada’s chief executive, Patrizio Bertelli, and Sander, who left her own company twice.
Prada is focusing on its own brands after being weighed down by losses at Jil Sander and Helmut Lang, which were bought in a 1999 acquisition spree.
“This is good news for Prada,” said Carlo Pambianco, founder of the Milan fashion consulting company Pambianco Strategie di Impresa. “This could be the start of a new growth phase for the company.”
This it is not the surprise to the Manolo, as there had long been the rumors and the stories about the clash of personalities. Patrizio he has the fiery temper, an is not the easy man to work with.