Bruno Magli Passed On

UK investment fund acquires Bruno Magli

Luxury footwear company Bruno Magli has been acquired by UK-based investment fund Fortelus Capital. The Italian luxury footwear specialist, which has fallen on hard times, was previously owned by Opera, an equity fund backed by Bulgari SpA and a number of other investors. The amount for which Bruno Magli was sold is unknown.

Fortelus Capital is a new $300 million turnaround fund founded last year by Timothy Babich. This is its first purchase. Babich said that the majority of the capital spent on the acquisition would go towards reviving the Bruno Magli business. "We think that part of (the attraction) was the history and the archives of all the designs,"he said. "We think that there is a good base to build on."

Opera bought the Bruno Magli business from the Magli family in 2001 for $140 million. Since then, Opera has failed to lead to business to profit. WWD reports that a source has said that it struggles with a lack of creative direction and a limited budget. Since 2003, Opera called in the help of consultancy firm Alix Partners to help manage the business. According to Babich, Opera had already completed a major part of Bruno Magli's turnaround. The brand operates 32 fully owned stores; 11 in Italy and 21 in Japan . It also has 25 stores through franchise agreements, with presences in 60 countries. In 2006, the company had €45 million in sales.

Hopefully we won't see the investment company reviving all the old designs and selling them in greater quantities at a reduced price in order to increase profits. That seems to be the way with "business" led fashion labels. They have admitted that the lack of creative direction has led to the company's misfortune. Surely rehashing their old catalogues will perpetuate the problem?

For independent designer shoes not backed or run by corporate calculators check out Vein Wear. Independent design, independent direction.

Poste "No Point" Patent Brogue

What could bigger than brogues on young trotters in coming seasons? Patent leather. That's right, your father used to creep around in them. Your grandfather also. And since the invent of PVC and its insidious application in footwear you've steered clear of anything with the slightest shine. Until now...

New leather techniques make the slick leather softer than ever before. The liquid reflections look fresh and oh so sharp. The right pair of patent shoes will take a more refined look to a new edge.

Why not combine it with broguing details on a stream lined last like this shoe from Poste. I couldn't find much information on the label. I don't even know if it is an original design. But there is a Poste shoe store in London which I assume is related.

You can purchase these shoes online at office.co.uk for around AU$200.00. Although when I tried, the site had some errors. Maybe you can check out the store... 10 South Molton Street Mayfair London, W1K 5QJ Tel: 020 7499 8002.

To check out the hottest brogues on the planet check out Vein Wear Winter 2007 Collection.

Vein Wear @ L'Oreal Melbourne Fashion Festival 2007

Vein Wear will be collaborating with clothing labels Morrissey and Leopold this season for the L'Oreal Melbourne Fashion Festival.

Come see the parade. L’Oréal Paris Runway 4: Presented by Men’s Style Wednesday 7 March, 6:00pm @ Fashion Cube, Melbourne Museum Plaza.

Links you might need:

• www.lmff.com.au L'Oreal Melbourne Fashion Festival
• www.leopoldsempire.com Leopold
• http://www.isubscribe.com.au/ Subscribe to Men's Style Magazine

I'll put up pics after the parade :)

Attention Retailers: Summer 2007/8 Purchasing Season

Hi guys (stockists & retail stores),

The Summer 2007/8 Vein Wear Collection is complete and I will be having collection showings at the following places. Please give me a call or email asap to book a time. Before and after hours are all fine. I'm a workaholic as well. Looking forward to seeing you all :)

• Brisbane: now until Sun 25 Feb by appointment
• Perth: Mon 26 Feb - Wed 28 Feb @ Mercure. 10 Irwin St, City. Parking on Hay St near the Fire Station is $1.70/hr.
• Adelaide: Wed 28 Feb - Fri 2 Mar @ Adelaide Airport Motel. 406 Sir Donald Bradman Drive, Brooklyn Park. Free visitor parking. Sorry about this hotel...there was absolutely nothing left in Adelaide due to the motor race! I very nearly got into a legal battle over a room in the Sebel...crazy :)
• Hobart: Fri 2 Mar - Sun 4 Mar @ Mercure. 156 Bathurst St, City. Free visitor parking.
• Melbourne: Sun 4 Mar - Thurs 8 Mar @ Ibis. 15-21 Therry St, City. (I have one available car park allocated to me on site so it will be by appointment only.)
• Sydney: Thurs 8 Mar - Wed 14 Mar. On the 8th and 9th I will be showing in the Novatel on Darling Harbour. 100 Murray St, Pyrmont. (I have one available car park allocated to me on site so it will be by appointment only.) ... After that I will be showing at Fashion Exposed - Preview. Stand 4131 @ Sydney Exhibition Centre on Sun 11, Mon 12 & Tues 13 Mar. For more details see www.preview.net.au
• Brisbane: Thurs 15 Mar - Wed 21 Mar by appointment.
• New Zealand: Mon 26 Mar - Fri 27 Apr by appointment with Anna Harding (please email me if you don't have her contact info on chris@veinwear.com).

To see the collection online anytime please visit our retailer site at http://dev.veinwear.com - you will need a password. Please email me if you don't have a password on chris@veinwear.com