Property tycoon Hussain Sajwani bought the Italian fashion group through his private investment company.
Property tycoon Hussain Sajwani bought the Italian fashion group through his private investment company.
Private equity firm Clessidra took over 90 percent of the label from its founder in 2015, but was unable to turn the brand around.
Private equity firm Clessidra took over 90 percent of the label from its founder in 2015, but was unable to turn the brand around.
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The underwear company is anticipating net sales of at least $6.85 billion in the current fiscal year, exceeding analyst estimates and marking the highest revenue since its split from L Brands Inc in 2021.
The Japanese brand is accelerating its expansion in India to capture a greater share of the rapidly growing apparel market and affluent consumer base.
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The retailer surpassed annual sales forecasts but expects a $60 million drag from import tariffs in the first half of 2026.
The transaction gives FSI, a Milan-based private equity fund, a controlling share in the Italian luxury house, as more founder-owned brands turn to investors to fund growth and weather a tough global market.
Spend growth at off-price chains is among the strongest in retail, with gains across all income segments.
The retailer said it was accounting for the 15 percent tariff announced by US president Donald Trump after the Supreme Court struck down most of his earlier tariffs.
Melissa Sperau, formerly of Shiseido, will join the US prestige cosmetics maker effective March 6.