Azzedine Alaia gets his name back.

[Kodak]

Prada sells Alaïa label back to Azzedine Alaïa

Friday, July 27, 2007

(MILAN) Prada SpA today announced that it is selling 100 percent of the capital of Azzedine Alaïa S.A.S. back to its namesake designer, without disclosing financial details.

“I thank the Prada Group for its valuable and total support to the Alaïa brand during the last years,” the Tunisian stylist said in a joint statement. “I thank particularly and personally [Prada chief executive] Patrizio Bertelli for the attention and the sensitivity that he had and continues to have in support of my work and I wish him all the success he deserves for his group.”

Under the terms of the agreement, Prada, which has recently begun to refocus its efforts entirely on its namesake and Miu Miu brands, will continue to cooperate on the development and production of footwear and leather goods collections for Alaïa. Most recently, Alaïa posted sales for the year ending January 31 at a growth of approximately 30 percent to nearly $17 million. “For Prada, this agreement confirms the strategy of focusing on its core brands in order to guarantee a continuous expansion and always generate more profit in the world’s biggest markets,” the company said.

"Today Azzedine Alaïa regains his independence, while maintaining a collaboration with our Group,” said Prada chief executive Patrizio Bertelli in an issued statement. “For Prada, this agreement is in line with the strategy to expand the Group and grow profitability by focusing on the development of the core brands in the world's key markets.”

The Prada Group, which acquired the Alaïa brand in 2000 as it made a significant push to build its portfolio of luxury fashion labels, has delayed multiple attempts to go public over the years. Earlier this year, Prada sold its Jil Sander business and has hinted that it would carry out an initial public offering of its shares in the near future. Its former Helmut Lang brand was sold to Link Theory Holdings Co. of Japan in 2006

http://www.fashionweekdaily.com/news...185&itype=8486

So do you guys think Jil Sander and Helmut Lang would of eventually been sold back to their original founders if they were not sold of to different holding companies? Discuss.

[Charlie Delta]

Alaia is a fucking amazing designer who doesn't get nearly as much love as he deserves!

There! I've said it!