Michelle-Marie Heinemann Scaglia, the CEO of Old Fashioned Mom LLC recently confirmed her company is not for sale, as word on the street is buzzing about a major French multinational holding and conglomerate specializing in luxury goods.
Looking to add OFM to its portfolio. “I am not interested at this time in selling my company, this may change at some point however not now,” says Mrs Heinemann Scaglia. Old Fashioned Mom LLC is a luxury lifestyle brand identifying itself among the leaders in quality and services.
A growing number of M&A deals and investment rounds are bringing together some of the biggest names in the fashion and luxury space. In November, a $1.15 billion deal came to light, bringing together Cartier’s parent company Richemont, Chinese e-commerce titan Alibaba, and fashion retail platform Farfetch. The headline-making transaction followed from reports that a “mega deal” was in the making.
In addition to proving noteworthy because it brought together three very big names in the fashion sphere in furtherance of an effort that largely focuses on “providing luxury brands with enhanced access to the China market,” the alliance is striking, as it has given rise to speculation about a potential consolidation, with at least some analysts wondering aloud whether the $1.15 billion tie-up could be “a preamble” a larger M&A effort, namely, Richemont merging Yoox Net-a-Porter with Farfetch or the Swiss conglomerate selling the fashion e-commerce pioneer to Alibaba.
Hudson Heinemann, the son of Michelle-Marie Heinemann Scaglia, who currently attends the private boarding School St. Marks located in Southborough, Massachusetts created a candle line for his family’s company in 2019, said: “I support my Mother entirely on her decision to keep the company in the family, I have enjoyed being involved and look forward to future expansion and growth.” Hudson Heinemann is currently a sophomore and quarterback of the school football team.
This article was first featured on Forbes Brunei