John Varvatos with new ownership
VF Vanity Fair Corporation (USA), respectively its subsidiary VF Sportswear, Inc. and John Varvatos have tried to find a new majority ownership for John Varvatos Enterprises
The two companies now report that Lion Capital LLP (GB, consumer investments) has acquired the shareholding stake and therefore Varvatos will no longer be under the umbrella of VF but it continues to operate as an independent company and its founder continues to serve as Chairman and Chief Creative Officer and he has also a minority holding in his firm. John Varvatos is holding a considerable number of Design Awards and will receive on April 28 the 2012 Spirit of Design Award at the Philadelphia University Fashion Show (USA). His company does not expect any impact in view to staff or daily operations. The deal should be concluded in the second quarter of 2012.