Façonnable
 | |
| Industry | Tailoring |
|---|---|
| Founded | Nice, France, in 1950 |
| Founder | Jean Goldberg |
| Owner | M1 Group |
| Parent | Lebanese private equity group M1 Group since September 2007 |
| Website |
www |
Façonnable is an international high-end men's and women's tailor founded in Nice, France, by Jean Goldberg in 1950.[1]
Background
The first shop, situated in rue Paradis in Nice, was opened by French master tailor, Jean Goldberg . The store was frequented by film stars in need of bespoke tuxedos and gowns for events such as the annual Cannes Film Festival.
Jean Goldberg's store gained great notoriety across the French Riviera, dressing stars of the era such as Tony Curtis and Cary Grant in Goldberg's unique style of classic tailoring with a modern twist. In 1961 Goldberg retired, his son Albert Goldberg took over the Nice workshop.
Albert Goldberg learnt the art of cutting and finishing. He created a new fashion footprint shifting it to the prêt-à-porter (ready to wear) market. After a visit to New York's Brooks Brothers store, Albert Goldberg produced a collection of ready to wear outfits for men and renamed the business 'Façonnable', a variation of the word "Façonner" (English: "to create").[1]
In 1973, boutiques were opened along the Cote d'Azur in Monte Carlo, Cannes, Saint-Tropez, and in Marseilles. Throughout the 1970s, Goldberg began to collaborate with large American and European companies such as Sebago, Alden and Van's to create a shoe collection. In 1975, Albert Goldberg worked with Loro Piana, the duo creating "Façorain", an invisible membrane allowing cashmeres and luxury wools to be wind and waterproof whilst retaining their texture and breathability.[2]
The first Parisian boutique opened its doors in 1984. In 1987, the brand diversified, releasing a collection of sunglasses and optical wear.[2] In 1988, the chain entered into a distribution agreement with US department store chain Nordstrom. Façonnable released a line of wristwatches in 1990.[2]
Façonnable opened its first US boutique on New York City's Fifth Avenue in October 1993.[3] The French fashion house launched a unique collection geared for the modern, American woman. Two further US boutiques were opened in 1997 located on the West Coast.[1] Following the success of its American women's collection, Façonnable released the range for general sale across Europe in 1999.[2]
Ownership
Façonnable SAS was owned by the Goldberg family until the company was sold to Nordstrom Inc., in 2000 in a cash and stock deal worth $170 million.[4] In September 2007, Lebanese private equity group M1 Group agreed to acquire Façonnable from Nordstrom Inc., for 152.985m Euro (US$210M).[5][6]
M1 Group is a holding company based in Beirut, Lebanon. It was founded over forty years ago by Taha Mikati and his brother Najib Mikati, the former Lebanese Prime Minister. The M1 Group covers a range of industries, including real estate, telecommunication, energy, aviation, cement and banking. M1 Group's CEO is Azmi Mikati. A subsidiary of the Group, M1 Fashion, was reported by Reuters to be in talks with Pepe Jeans regarding a possible takeover in February 2015.[7]
References
- 1 2 3 Our History, Façonnable
- 1 2 3 4 "Façonnable History".
- ↑ Strom, Stephanie (1 October 1993) "French Clothier Opening in New York", New York Times
- ↑ Deals "The Washington Post (28 September 2000) page E.01
- ↑ Acquisitions Monthly, 1 September 2007 "M&A deal data.(Company overview)"
- ↑ Associated Press (27 July 2007) "Nordstrom sells Faconnable brand to M1 Group for $210 million", KATU
- ↑ "M1 Group close to buying Pepe Jeans". Reuters.