John Richmond changes ownership, targets Milan Fashion Week return
The John Richmond fashion label, founded in the 1980s by the eponymous British designer, is set on a new course. Italian family Ammaturo, the founders of Arav Fashion, through which they also own Silvian Heach, has in fact acquired from Fashioneast an 83% stake in the brand portfolio which includes John Richmond, Richmond X, Richmond Denim, Richmond, Richmond Junior and JR. The Arav group has also inked a licence deal for the production and distribution of all the labels' ready-to-wear and accessories lines. John Richmond himself will continue to be in charge of the collections' design via a London-based styling office, where a young, international design team is already hard at work.
"Our creative and international expansion plans for John Richmond feature a grand return of its men's and women's collections on the Milan Fashion Week catwalks in September 2017, as well as a strengthening of retail operations, with the opening of a flagship store in Milan in 2018. The new store will showcase the label's fashion and accessories collections, as does the recently opened Prague store," said Mena Marano, CEO of the Arav group, speaking to FashionNetwork.com. "In 2018, the Junior line will account for roughly one third of John Richmond's total sales, which are expected to reach approximately €12 million, once the men's and women's collections are also factored in. By the next spring/summer season, the men's and women's collections will be available in about 350 stores worldwide, and the junior collections in 250 stores," said Marano.
A major new licence agreement was signed between John Richmond and Compagnia delle Pelli, for the worldwide production and distribution of the label's handbags, while the long-established partnership with Rodolfo Zengarini for footwear has been renewed. John Richmond is also planning new offices and a monobrand store in London.
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