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A guy walks into a bar in paris.He’s in his early 40s, a silicon valley venture capitalist looking for a new investment.Soon, he’s thinking of buying the french fashion house of emanuel ungaro. “I knew nothing of ungaro,”Asim abdullah remembers thinking as he was introduced to the chief executive of the brand that night. “We were a group of business acquaintances meeting casually for drinks. “The wealthy entrepreneur had thought his next big investment would have something to do with cars, watches or maybe leather goods. “You know, things a man can appreciate. “Instead, he decided to spend a small fortune for a luxury brand known for polka dots, feminine frills, flounce and fuchsia.And so, a california techie with no fashion experience became the first american individual to buy a french couture house.Almost as surprising is the cheap michael kors handbags sale fact that there are so few large privately owned fashion houses left at all. (Ungaro was owned by the ferragamo group until asim took over in november. )Neither asim nor his wife, a practicing physician on the peninsula, comes from the industry.Of the two, asim has the bigger learning curve. “I definitely know a lot more about draping now than i did six months ago,”He says with a laugh.His wife, who says she’s always had an interest in fashion, didn’t have that much catching up to do. “I’ve always loved his gowns,”Asim’s wife, isha abdullah, says. “I have several in my closet.They’re colorful and sexy without being vulgar. “So it’s no surprise that she seems to have moved effortlessly into her new role as fashion house consultant and ambassador.At a recent charity fundraiser at the couple’s sumptuous san francisco penthouse apartment, she wore an ungaro ensemble of a chic black satin ruched pencil skirt and white organza blouse with a row of ruffles down the front with discreet silver beading, paired with 5 inch christian louboutin peep toe platforms.In addition to the 10th floor washington street pied a terre, furnished with museum quality french antiques, elaborate glass chandeliers, stone sculptures and important south asian art, the couple also has a neoclassical home in atherton that they share with their two sons, 7 and 11, and two labradoodle puppies.The financial figures of the ungaro deal have not been publicly disclosed,Asim says, to reflect the wishes of the sellers, who sold the label and 13 stores worldwide. “The transaction was in fact a little complex, in that it involved the purchase of the house, the perfume division, certain licensing agreements and the assumption of some debt,”He says.According to women’s wear daily, the deal may have been worth $5 million to $10 million for the fashion and fragrance businesses.The company was also reportedly about $25 million in debt. (A company cheap wedding dresses online representative told agence france presse at the time of the sale that the total wholesale revenue of products sold under the label through licensings deals was approximately $84 million and added that he expected sales to top $120 million in three years. )”Ungaro has tremendous name recognition,”Asim says. “Although it has been languishing for a couple of years, it still has legs.And i saw this as a platform for me to do other things, like in the realm of architecture.I want to get into industrial design, maybe build an amazing design studio. “Big changes are under way with a new designer, a new chief executive officer and a new direction.Though the ungaro name is still a household word, the brand hasn’t had a strong identity since the master tailor himself retired from overseeing the ready to wear collections in 2001, then hung up his scissors for good with his last haute couture show in 2004.He is no longer affiliated with the company, but he does informally consult and socialize with the couple.One of europe’s major couturiers, ungaro has dressed generations of wealthy women from ’60s space age babes to ’80s power suiters to modern fashion icon nicole kidman.The designer, who trained under the revered cristobal balenciaga, opened his own atelier in 1965.Among his many trophies, he was recognized with two consecutive golden thimble awards, one of fashion’s high honors, in the early ’80s.To mark his semi retirement and 35th anniversary in 2001, he was feted at a celebrity studded, moroccan themed bash at the vast lexington avenue armory in new york.Now in his early 70s and living quietly in france, the designer leaves a legacy of mixed prints;Wild, hot colors;Bright, sexy, sultry, body hugging clothes;And red carpet glamour.The design torch has now been passed to 40 year old norwegian american peter dundas, the third creative director since 2001, after giambattisa valli and vincent darre.Just a few months ago, asim named mounir moufarrie the new chief executive officer.Moufarrie has been around the block, having hired and fired karl lagerfeld at chloe and then brought in a beatle’s daughter, a fledgling designer, to take over the show. “When mounir was at chloe, he got a lot of flak for bringing in stella mccartney, who was unknown at the time,”Asim said. “But the press loved her, he understood that, and he ignited the brand. “Dundas, though relatively new to the game, has some chops, too.He’s worked for john gaultier, christian lacroix and was most recently the creative director at roberto cavalli.After interviewing about 50 finalists”The designer search would have made for very good reality tv,”Asim says Dundas emerged the clear choice. “He was confident, charismatic and he had a clear view of where to take ungaro,”Asim explains. “He seemed to connect all the dots.You need a level of creativity and practical thinking, like a tom ford. “Dundas said his goal is to create a”Sensual femininity”And to keep the european flair the house is known for.His new customer”Is a woman looking for the young, hip mix of international ease and style with a parisian twist,”He wrote in an e mail from france. “As the brand grows, this identity will extend from day through evening clothes, to fragrance and accessories. “For his debut collection presented in paris in march, dundas appears to have left his norwegian roots behind with a leg baring, tightly draped series of miniskirts, jersey dresses and clingy gowns.Isha sat in the front row, more nervous, perhaps, than dundas was backstage. christian louboutin outlet,cheap ralph lauren polo,
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