Jason Wu sells majority stake
Ahead of his runway show today
As he's also gearing up towards his next show for Hugo Boss, Jason Wu has announced the sale of a controlling stake in his business to InterLuxe — a new investment firm that leans on the fashion expertise of Gary Wassner and Allen Questrom.
The designer, who is showing his own SS15 collection on the NYFW runway today, plans to use the new funds to open a flagship and expand his budding e-commerce and handbag businesses.
InterLuxe is backed by Lee Equity and chaired by Gary Wassner, who supports much of the New York designer community as co-chief executive officer of the factoring firm Hilldun. A CEO with a fashion background is expected to be named today.