Despite owner Asim Abdullah's insisting that Ungaro is not for sale, a new report in TheNew York Post claims that he met with former Valentino chairman Matteo Marzotto to shill a 75 percent share in the embattled brand. What gives?
Marzotto, besides being an Italian tycoon, is best known for his accusation (and subsequent retraction) that Naomi Campbell hit him when the two were dating. Now, he's back in the news for possibly buying up Ungaro, although the Post story does not include Marzotto's side of the story.
Ungaro recently closed its Madison Avenue store, almost simultaneously announcing plans for a smaller boutique in the Plaza Hotel, and is rumored to be tied to Lindsay Lohan with a three-year contract for $1.5 million annually. Lohan, as we all know, brought the troubled house even closer to the ground after strutting a collection of pasties and other horrors down the spring 2010 runway. (In fairness to Lohan, the company has been struggling for some time, so pinning the blame for its entire demise on her shoulders seems a bit much.)
These persistent rumors (in the face of Abdullah's rebuttals) certainly does suggest that everything may not be what it seems, but we'll all just have to wait and see whether Ungaro changes hands or not.