Industry Highlights – LVMH Head for Belgian Citizenship, J. Crew to London, Mitt Romney enters Billabong Race, DVF and Google Glass, Renewed Interest in JJB Sports

Posted on September 10, 2012

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Arnault applies for Belgian citizenship

“Bernard Arnault, France’s richest man, fuelled the controversy over François Hollande’s plan to impose a 75 per cent marginal income tax rate on Saturday, when he revealed he was applying for Belgian citizenship.” (FT)

Mickey Drexler: King of Casual Chic

The J.Crew CEO on the Retailer’s Move to London and Why Great Style Is an International Language (WSJ)

US Presidential candidate Mitt Romney is the last to reveal his intentions to take the Billabong wave. Romney’s co-founded private equity fund, BAIN Capital, has become the last name to sound for the takeover race for Billabong, offering to match rival TPG’s 694 million dollars bid.Billabong announced Thursday that it had received an “indicative, non-binding and conditional proposal” from an unnamed party wanting to acquire it at “around 1.45 dollars per share”, the same price offered by TPG. This is the second takeover offer that the surf wear company receives in six weeks. Billabong’s advisers are Goldman, Sachs & Co. and law firm Allens.” (Fashion United)

New York Fashion Week spring/summer 2013: DVF get techy with Google Glass

“New York Fashion Week designer Diane von Furstenberg has teamed up with Google to showcase their latest invention, Glass.” (Telegraph)

“Ten pretenders for JJB Sports Struggling British retailer JJB Sports have received proves of interest of ten different potential buyers. Among the names contesting for the ownership of the sports apparel chain are OpCapita and Hilco UK.” (Fashion United)
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