If you thought the idea of buying a brand-new Gucci glasses is too far-fetched, think again.
There is one man who knows how to get his hands on a new Guccis and the best part?
He doesn’t need to spend the cash.
A few months ago, the brand was on the verge of bankruptcy.
When the company finally came to an agreement with creditors, they agreed to sell the brand to a consortium of investors led by private equity firm Andreessen Horowitz, who would take over the company in 2020.
At that time, Andreessen and his partners wanted to sell a stake in the company to investors who would then be able to buy back shares in the brand.
The deal was finalized on Feb. 6, 2021.
Andreessen Horowitz had its sights set on acquiring the brand for the $1.5 billion that was being proposed.
According to a press release, the firm believed that the price tag was far too high.
After all, the company had already sold more than 200 million Gucci sunglasses, which is a lot of sunglasses.
The firm also wanted to keep the price down and make it easier for consumers to buy Gucci eyewear online.
But the deal fell apart.
The consortium, led by New York-based investment bank Cantor Fitzgerald, decided that they would be willing to pay an “inclusive price” of about $1,500 per Gucci, which would be the lowest price that they could accept at the time.
The group decided to take the brand back from the consortium, which then put it up for sale to private equity firms.
A week later, the consortium announced that it was going to take a stake of just $1 per Gucci, which was less than the $2.5 million that Andreessen had originally asked for.
The price was still less than what Andreessen wanted, so it was decided to sell off the brand in a new sale.
The new consortium agreed to take $500 million from the brand, and the company went into bankruptcy.
At the time, it was reported that the consortium had made $1 billion from the deal, but the financial information from the sale of Gucci was not available.
According the press release issued by Cantor Fitzgerald on Feb 25, the new consortium had agreed to a $1 million buyout offer that the new buyers would receive from the new group of investors, but they have yet to receive the full amount.
While the consortium’s bid was initially $1B, the financial reports from the transaction indicate that the deal was valued at $1L.
So while the price was reduced from $1 to $1 and the consortium got the full $1M, it didn’t exactly come out to $2B.
So how much did the consortium actually pay?
According to a report from Bloomberg, the deal has been valued at around $1C.
So according to Cantor Fitzgerald’s calculations, the group of companies, led a group of five, paid $1 each for the Gucci brand and $1 in cash for the brand itself.
That means that the group was actually paying $1 a million dollars for the property.
In total, the buyers paid the consortium around $8.7M, according to Bloomberg.
According a spokesperson for Cantor Fitzgerald told Bloomberg that they expect to pay approximately $1F in cash to the consortium once the new purchase price is final.
According one of the investors who sold the brand (who has declined to be named), the group has also agreed to pay the consortium a cash payout of $1K for each Gucci that is sold.
That makes the group worth around $5.6M, or $8C.
So, how does a group like this, which had been making money off of Guccas for years, suddenly end up losing money?
According a report in the New York Post, the current group of shareholders has already agreed to give the group a $10.6 million payout.
That amount, the report said, is more than the previous investors, who sold a portion of the brand as part of the initial deal.
The group has already received a payment of $7.4 million, which, according the report, will come from the newly purchased company’s $1 share of Cantor Fitzgerald.
The next payment is expected in late 2018, when the new ownership group will receive its shares.
So the total payout to the group, according Cantor Fitzgerald is estimated to be $8L, which puts the group’s value at around the $7B figure.
But how does this group of buyers, who had been so profitable, suddenly lose money?
According to the New Jersey-based firm, the biggest risk in selling the brand is that the current ownership group may be unable to meet the consortiums requirements.
This could lead to a run on the brand and make the group less attractive to potential buyers.As of