Sunday, March 3, 2013

BCBG Max Azriza to Consider Company Sale

Fashion house BCBG Max Azriza Group is looking to sell.   

Founded in 1989, BCBGMAXAZRIAGROUP is the lifetime vision of one man: Founder, Designer, Chairman and Chief Executive Officer Max Azria. In 1981, after eleven years of designing a line of women's wear in his native Paris, Azria moved to the United States and launched Jess, a series of new-concept retail boutiques offering hip French fashion to American women. After years of success, Azria decided to pursue his dream of launching a design house that spoke to the modern woman - thus BCBGMAXAZRIA was born. Named for the French phrase bon chic, bon genre, a Parisian slang meaning good style, good attitude, the brand embodies a true combination of European sophistication and American spirit.

BCBG Max Azria Group Inc., whose fashionable clothing has been worn by popular celebrities such as Angelina Jolie and Beyonce, has been struggling since the economic downturn. It has been facing debt woes since the shutdown of Max Rave chain which it acquired in 2008. As of 2012, Standard & Poor's said that the group was at risk of breaching financial covenant for a load reaching to $230 million held by Guggenheim Partners. I hope they will be able to turn it around, but it may be too little, too late.

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