KARL LAGERFELD - has sold a minority stake in his eponymous label to PVH. Lagerfeld opened his brand's biggest European store so far, on London's Regent Street, last month."We are excited to have PVH as a shareholder," Pier Paolo Righi, president of Karl Lagerfeld, told WWD. "We have ambitious plans for the business and have embarked on an aggressive growth strategy, opening a new store every three weeks over the last six months. We believe PVH's strong track record in supporting the growth opportunity of global designer lifestyle brands will be a big asset."
The deal means that the brand, which has previously focused on growth in Europe and Asia, will now expand into North America, where PVH (formerly known as Phillips-Van Heusen) will control the franchise.
