The Kazakh socialite has agreed to buy a majority stake in Vionnet.
MILAN: Kazakh billionaire Goga Ashkenazi, best known for her opulent lifestyle and high-society friends, has agreed to buy a majority stake in fashion house Vionnet, the latest acquisition of a European luxury brand by new-money investors.
The London-based entrepreneur with interests in the oil industry will help the house, founded in 1912 by French couturier Madeleine Vionnet, grow in a globalised industry, despite headwinds in Europe, the company said in a statement yesterday.
Vionnet, famous for its fluid asymmetric dresses worn by movie stars such as Madonna and Natalie Portman, was relaunched in 2009 by a group of Italian investors led by former Valentino chief Matteo Marzotto.
The company expects revenues of 9.5 million euros in 2012, a drop in the ocean in the multi-billion-dollar luxury industry, but that number is on the rise. Its revenues jumped 40% to 7.3 million euros in 2011.
“I believe fashion brands must find a way to fund their growth while respecting their creative process,” Marzotto said.
Vionnet aims to open a monobrand store in Paris after opening its first showroom in Milan this year. Its 1,400-euro dresses are sold in 190 multibrand stores worldwide.—Reuters