It’s been a busy week for the fashion business….
This morning, WWD suggested that serial investor Tommy Hilfiger might be spending some cash on the fashion brand Michael Kors, which is trying to raise around $500 million for a global expansion plan (including an IPO). In the past, Hilfiger has invested in the likes of Karl Lagerfeld and is currently a consultant for the English heritage brand Belstaff. With Hilfiger’s namesake brand now owned by conglomerate PvH, he obviously has an extra bit of time on his hands–or at least space is in his brain–for new projects….
If Hilfiger is really thinking ahead, he might consider investing some of his fortune into Moda Operandi, the online trunk show which just closed its second round of funding. This time around, partners Aslaug Magnusdottir and Lauren Santo Domingo raised $10 million with the help of venture capital firm New Enterprise Associates.
“Moda Operandi has experienced an exceptional level of growth since our launch in February,” Magnusdottir told Fashionista. “This second round of financing will aid us in ensuring that we expand in a way that best serves our brand partners and members.”
As high-end fashion brands and concepts continue to experience record growth–consider Prada’s better-than-expected debut on the Hong Kong Stock Exchange–many specialty retailers are struggling. Deb, the Dressbarn for juniors, filed for bankruptcy protection Sunday. If you check out their offerings, it’s pretty obvious why. Let’s face it: Stores like Deb, 5-7-9, Rave, Contempo Casual (*tear*) have been usurped by Forever 21 and H&M. Kind of sad, but kind of a great example of capitalism at work….