Hedge fund buys Downtown Abbey´s Savile Row tailors
By FashionUnited
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L’Roubi will be creative director and co-owner of Huntsman and will work with the current team. In declarations to London press, the designer said he will use his womenswear experience to expand Huntsman’s collections. His Mayfair couture business is expected to be merged with the Huntsman label, ‘The Standard’ advanced.
Lagrange is worth an estimated £120 million. He co-founded the GLG hedge fund, which was criticised for short-selling shares in Bradford & Bingley in 2008. He became a director of Mr L’Roubi’s company Asked For Designs in 2011.
The price is undisclosed yet the latest accounts show the company had net assets of almost 1.1 million pounds in 2011, published ‘The Telegraph’. The paper also reminded that Lagrange was pivotal in the sale of GLG to listed hedge fund group Man in October 2010 for 1 billion pounds. In December 2012, Mr L’Roubi became the Co-Owner and Creative Director of Huntsman, the iconic Savile Row brand.