The Boy Wonder Finds An Investor
28 May 2014
DESIGNER Esteban Cortazar, formerly creative director of Emanuel Ungaro, has found the investment he needed to grow his eponymous label. London-based MH Luxe Ltd has acquired a minority stake in the brand - an investment that the company said would support Cortazar's "growth over the coming years".
The young Paris-based Colombian relaunched his label in 2012, but revealed in July 2013 that he needed investment to take it forward. He plans to continue to work "trans-seasonally", WWDreports, presenting two large collections annually that will be broken up into three deliveries - and will continue his relationship with Net-A-Porter while also expanding into 10 to 15 new international department stores.
Cortazar, who is still only 30, became the youngest designer ever to show at New York Fashion Week when he first launched his line in 2002 - missing high school in order to attend, aged just 17. He then closed his label when he joined Ungaro aged 23, but he left in 2009 - and the brand's CEO, Mounir Moufarrige, hired Lindsay Lohan as its artistic advisor.