Tuesday, July 22, 2008

Pedal to the Medal at Victor & Rolf

Victor & Rolf are getting pumped up.

Diesel's Renzo Rosso has acquired a majority stake in the fashion brand. "We cannot do everything ourselves," Rolf Snoeren said. "This is all a question of having the right partner with the force, the power and the know-how to do it...What we noticed working with L'Oréal [their FlowerBomb licensee] is that a good business partner can bring opportunities that we ourselves could never realize," he said. "We want to achieve the same thing with the ready-to-wear."

WWD reports that Rosso's plans include bolstering the duo's ready-to-wear business, licensing eyewear and jewelry, and opening freestanding stores (they currently have but one). "To be a brand today, you need to produce all the products a person can wear every day," Rosso said. "It can be jewelry, watches, everything: bags, shoes and accessories in general...My idea is to build one of the most modern [fashion] groups for the future," said Rosso, who also acquired Maison Martin Margiela in 2002. "[V & R] are much more modern, close to the new young mentality," he explained. "I believe much more in the new luxury that is less expensive, more approachable for the new upcoming consumer."

Free of business pressures, the pair hopes the partnership will allow them to focus on design. "It's a new chapter to start building on the brand and to focus on creativity," said Snoeren.