Catherine Malandrino Finds Investors in Elie Tahari, Arthur Levine
Catherine Malandrino's got a new attitude, and some fresh new funds to play with.
Following recent reports of rumored store closings and a canceled New York Fashion Week show, the French designer is bouncing back thanks to new investors Elie Tahari and Arthur S. Levine, Women's Wear Daily reports.
Described as an "equal partnership," the financial support will help Malandrino expand her retail and wholesale brand, particularly overseas.
"A year ago, we knew that after 12 years as a designer in New York, we were looking for the right partner to grow as a brand,” Malandrino tells WWD of her decision to take on investors. “Of course, when you get to this process, it’s a long one, because you want to make sure you are going to make the right choice for the long term."
"We admire her talent immensely,” adds Tahari, who runs his eponymous label and several other businesses with Levine. “We feel that her aesthetic, which is feminine and elegant, and soft and sexy, is a category of product that the consumer is hungry for, and the stores are searching for this type of design.”
The trio will focus their efforts on supporting Malandrino's back-end infrastructure as well as utilizing their factories in Asia and Italy and eventually launching a secondary line with a mass-market appeal.
"In China, we have 900 people working for us in our factory, which will be a unique advantage for Catherine, especially considering that embroidery and beading have always been a major part of our collection,” Levine says. “We will give Catherine the ability and access to production.
"As far as licensing, we will go slowly, and be very selective, and do the right thing to grow the brand. Everything has to reflect perfectly on Catherine, on the product and on who we are.”
No financial terms have been disclosed, though the Malandrino label has an estimated total sales volume of $20 to $30 million.
