BILL BLASS CLOTHING LINE SOLD FOR 10 MILLION DOLLARS - CA$H

new york - i guess he had it coming....after a very dramatic year: hiring of peter som, quitting of peter som, return of peter som, sale of bill blass couture -  nexcen, which owns the label, just sold it. according to media reports, the company got a cool ten million dollars in cash from peacock international holdings, which bought the business. the purchase price was reportedly far below what nexcen was asking, but it is certainly enough to help nexcen with their new strategy which is to pay down all the debt associated with the business. i wonder what this means for the next phase in what has been more or less a downward spiral for the bill blass label. that said though, what do they say in they say in church? a set back is nothing but a set up for a comeback? it would be brilliant to see the company rise from the ashes - with the help of a star designer - in '09.

 

 

photo: dallasnews.com; peter som backstage at a billblass show