Michael Bastian and Bluestar Alliance announce joint venture partnership
Michael Bastian and Bluestar Alliance LLC announced Thursday a new joint venture, MB Brand Holdings LLC, which will expand the footprint of the Michael Bastian brand. The new joint venture is made possible by an agreement between the two parties that has been signed whereby Bluestar Alliance has acquired a significant interest in the Michael Bastian brand for an undisclosed sum.
"Michael Bastian is a natural fit within Bluestar's current portfolio of luxury designer brands and rounds out the men's side of our business," commented Joseph Gabbay, CEO of Bluestar Alliance. "There is a tremendous void in the market for a true American men's designer brand. By working with him to develop a new mid-level department store tier to his business we will be able to offer his unique American point of view at affordable luxury price points. The first two classifications to roll out will be sportswear and tailored clothing with several category expansions to be announced in the coming weeks."
Michael Bastian founded his eponymous label in 2006 after serving five years at Bergdorf Goodman as the Men’s Fashion Director. In the first year of business for his brand, he was nominated for CFDA’s Newcomer Menswear Designer of the Year Award. He was then nominated for the CFDA’s Menswear Designer of the Year Award for four consecutive years, from 2008 to 2011, and in 2013, winning the award in 2011.
The Michael Bastian brand is known for its Italian-made luxury sportswear as much as it is known for its many collaborations. GANT by Michael Bastian, a sportswear collaboration between Swedish brand, Gant and Michael Bastian, launched in fall 2010 and released its final collection in fall 2014. The collaboration garnered much attention for the New York City-based designer, as did other collaborations with Havaianas, Barneys New York, Hewlett-Packard and Uniqlo.
Bluestar Alliance LLC adds the Michael Bastian brand to a number of brands in its portfolio that it manages and markets including Nanette Lepore, Catherine Malandrino and Kensie among others.
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