Several outlets are reporting that MB has sold a majority stake in his label to one Bluestar Alliance LLC. Indeed:
The first fashion industry M&A of the year is here! Bluestar Alliance LLC has announced that is will acquire a “significant interest” in the Michael Bastian brand for an undisclosed amount. . .
Bluestar, which was founded in 2007 by Joseph Gabbay and Ralph Gindi, owns, manages and markets a growing portfolio of consumer brands including Catherine Malandrino, Kensie, and Harve Bernard, purchased the “majority of the intellectual property” of the label. . .
The designer will retain a key portion of the business and will remain in complete control of the luxury portion of the label. WWD notes [that the] new joint venture–MB Brand Holdings LLC–will expand the Michael Bastian footprint into mid-level retailers with a line of licensed tailored clothing and sportswear before the end of this year” . . . .