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Hi, and welcome back to Line Sheet. Today is Inner Circle Day, which means you have to
pony up to read up. (If you have any trouble, email Fritz@puck.news and he’ll sort you.)
I’m digging into the implications of a Versace sale to the Prada Group and what it would mean for those two companies, and for the broader industry. I’ve also got news of a P.R. shake-up in London, some crucial legacy media
appointments, and the makings of a major blowup at Skky, the Kim Kardashian co-founded private equity firm.
Last night, I stopped by former Spy magazine owner Jean Pigozzi’s house in The Oaks to celebrate Enorme, the blocky 1986 telephone designed by Ettore Sottsass and IDEO founder David Kelley, in partnership with Pigozzi. Sottsass died in 2007, but Pigozzi and Kelley (along with Italian design executive
Charley Vezza) will join Puck’s very own art industry expert, Marion Maneker, on Saturday, March 29, at 5 p.m. for a chat about the artist’s life and work. It’s all part of Design.Space LA at the Pacific Design Center, where I’ll be hosting a live taping of Fashion People earlier in the day with special guest Jesse Lee. (Click here for more details or go straight to Designspace.la to RSVP.)
If you’re interested in owning an Enorme phone, there will be at least a few for sale at the fair—including this one and a
rarer monochrome version, plus a whole bunch of other great stuff, such as lots of recognizable Memphis Group paraphernalia, Grant Levy-Lucero’s Chanel lipstick sculpture, Keiko Moriuchi brooches, and a Paulin Paulin Paulin couch designed with fabric culled from Christo and Jeanne-Claude’s L’Arc de Triomphe,
Wrapped (1961-2021).
Mentioned in this issue: John Idol, Prada, Capri, Versace, Donatella, Jimmy Choo, Lorenzo Bertelli, Miuccia Prada, Patrizio Bertelli, Renzo Rosso, Gucci, Demna, Miu Miu, Elisa Lipsky-Karasz, Salone del Mobile, Sam Schube, Kim Kardashian, Skky, Virginia Norris,
Whistles, and many more…
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Three Things You Should Know…
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Elisa has a new job: Elisa Lipsky-Karasz, who got laid off (in a nice way, amid a restructuring) from WSJ. magazine a few months ago, is back at her old stomping ground Hearst, where she’s been hired by coverline queen (and Town & Country editor-in-chief) Stellene
Volandes to oversee...
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The Prada Group is preparing an estimated €1.5 billion bid for Versace (and maybe another
€500 million for Jimmy Choo), setting the stage for the luxury brand to win back its obsessive and loyal fans under Italian ownership once again.
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By the end of the Paris shows, the fashion industry had collectively decided that the Prada
Group—which includes Prada, Miu Miu, Church’s, and, of course, Marchesi 1824—was definitely buying Versace, currently owned by the beleaguered Americans at Capri, for an estimated €1.5 billion. It’s not a worst-case scenario for Capri C.E.O. John Idol, following his failed effort to sell the company and its brands, including Michael Kors and Jimmy Choo, to Tapestry last year. Yes, he arguably overpaid in 2018, when Capri acquired Versace from the family and their investment
partner, Blackstone, for about €1.8 billion. At the time, even WWD called the price “aggressive.” But not every big bet pays off, and to be able to get the majority of the investment back—minus the millions invested over the past seven years—isn’t...
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An essential, insider-friendly Hollywood tip sheet from Matthew Belloni, who spent 14 years in the trenches at The
Hollywood Reporter and five before that practicing entertainment law. What I’m Hearing also features veteran Hollywood journalist Kim Masters, as well as a special companion email from Eriq Gardner, focused on entertainment law, and weekly box office analysis from Scott Mendelson.
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Join Puck’s chief political columnist, John Heilemann, as he roams the corridors of power and influence in America on this
twice-weekly interview show, taking you beyond the headlines with the people who shape our culture: icons and up-and-comers, incumbents and insurgents, moguls and machers in the overlapping worlds of politics, entertainment, tech, business, sports, media, and beyond. The conversations are rich and revealing, unrehearsed and unexpected… and reliably impolitic. A Puck-Audacy joint, new episodes drop every Wednesday and Friday.
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