Partners Group Is in Talks to Hand Smurf Toymaker to Creditors
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Partners Group -owned Schleich is discussing a debt restructuring that could see the private equity firm hand over the keys of the German toy company to its creditors, people with knowledge of the matter said.
The firm's lenders, including credit firms Investec and H.I.G., are offering to inject €5 million ($5.8 million) of fresh capital to address its immediate liquidity needs, they said. Blackstone Inc. is also involved in the talks as it's managing some loans for other institutions, some of the people said.
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Milano Unica: Attendance Grows Despite Geopolitical Uncertainty
MILAN — While the latest edition of Milano Unica saw increases in attendance and the number of exhibitors, the overall mood remained cautious as the threat of U.S. tariffs and the overall weakness of the global economy continue to weigh on the sector. That caution fed into the textile trends for fall 2026, which focused on heritage, signature fibers and traditional weaves and patterns. More from WWD From the Archive: Rediscovering Fairchild's 1916 Dictionary of Women's Wear Who's Next Adds Homewares, More Sourcing Support for September Maison&Objet's Managing Director Mélanie Leroy Resigns The 41st edition, which closed Thursday, saw a notable increase in attendance, up 10 percent compared to the same edition in 2024. The growth was recorded across all major markets for Made in Italy textiles, with the exception of China, which declined by 3.5 percent versus the July 2024 edition, and Korea, which declined by 14 percent. 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Andrea Crespi, general manager at Eurojersey, echoed that sentiment, stating that this represents a moment of deep readjustment. The company's overall performance is being lifted by a boom in the sportswear segment, especially in Asian countries, with running and cycling driving the rise. Silvio Botto Paola, CEO at Botto Giuseppe, reported that the company is on track to meet its expectations for the year, despite a 6 to 7 percent reduction in quantities, and is looking forward to 2026 as a potential year of growth. In terms of markets, Albini noted a decline in the Far East, while Europe showed resilience and the U.S. experienced a significant recovery from the second half of 2024 onward, beating earlier forecasts. Piacenza observed a slight decline in China and stagnation in Japan. Maggia reported that Italy and the U.S. performed in line with expectations, while Europe is doing well, particularly the U.K. and Germany, while Turkey saw a significant decline. 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The textile, part of the mill's 'The Goat — Greatest of All Textiles' line, was paired with wool jersey for a range of finished garments, such as tracksuits, zip-up hoodies, and sweaters. At Lanificio Cerruti dal 1881, the focus on noble fibers resulted in superfine wools, cashmere, silk, and precious blends. The collection boasted a wide selection of jacquards offered in a range of patterns done in an earthy and warm palette, from mineral gray and tobacco to rust and blue. Lanificio Fratelli Piacenza introduced the men's tailoring-intended cashmere from the Karakorum region, in addition to expanding its women's offering hinged on British elegance with cashmere fabrics or blends of virgin wool and cashmere and cotton mixed with fantasy yarns. Lanificio Piemontese's collection featured compact jacquard fabrics mimicking denim, a reinterpretation of Harris tweed and other textured textiles including bouclé and fantasy fabrics. Chargeurs PCC continued to innovate with its Solutions Provider service, offering customized interlinings that not only provide stability and durability but also become a stylistic feature of the garment. Their new Versalix interlinings featured weft-inserted knitting and diverse resin formulations, ensuring high comfort and performance. The company also introduced a new interpretation of H2, a lightweight, three-layer fabric that combines noble natural fibers like wool and cashmere with Tencel and recycled polyamide, resulting in breathable, lightweight, and technical fabrics with a soft hand and superior fit, achieving a 30 percent reduction in weight compared to traditional fabrics. Maglificio Maggia's collection included a blend of 85 percent wool and 15 percent cashmere, as well as a blend of 70 percent wool, 20 percent polyamide, and 10 percent cashmere. The latter is intended for flannel dresses, sweatshirts, jackets and jacquard fabrics. 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At Loro Piana, one of the key innovations was a wool and silk blend with a small percentage of linen, which added depth and texture to the fabric. This effect was enhanced in the Solbiati fabrics, a combination of wool and linen. The brand has also made significant investments in developing wool and cashmere jerseys with jacquard fabrics that have an almost knit-like texture. Additionally, Loro Piana continued to emphasize its outdoorsy proposition through coarse wools and nylon fabrics, while lighter and even more luxurious options included 100 percent silk textiles. In terms of coat fabrics and heavier winter weights, the brand focused on finishes that lent a rawer look, particularly through brushing and super-washed treatments, for example in the Raw Cashmere and Raw Alpaca fabrics that did not lose either total warmth or softness. Eurojersey's Sensitive Fabrics for fall featured bright colors and geometric patterns nodding to life in the outdoors and sportswear. 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Botto Giuseppe's collection featured a range of high-quality fabrics with unique properties, including fine wool textiles, combed melange flannels, Donegal tweeds, stretch cashmere, and luxury tailoring fabrics. These fabrics were designed to provide features such as water-repellency, breathability, and stretch. The latter came to the fore in the bi-stretch woolen poplin, and bi-stretch combed cashmere. A leader in sustainable innovation, Thermore launched Ecodown Fibers Sync, a padding crafted entirely from free fiber derived from post-consumer PET bottles. The dual-performance fibers offer both ultra-lofty softness and resilience, as well as a soft hand feel that resists clumping and has high versatility, making it ideal for both streamlined technical outerwear and voluminous fashion silhouettes. The innovation is GRS-, Bluesign-, and Oeko-Tex Standard 100 certified, ensuring that the product is free from harmful substances and meets the highest criteria for environmental and human safety. Lenzing has developed a technology that combines Tencel's Lyocell fibers with recycled materials to create sustainable and high-quality fabrics. Partnering with the textile firms Marchi & Fildi Group and Maglificio Maggia, different Tencel Lyocell fiber variants — including those embedding micro technology and low-fibrillating ones — were paired with recycled silk, wool, or cashmere, as well as with varying percentages of recycled cotton and Cradle to Cradle-certified Roica V550 elastane. The technology enables the creation of fabrics with recycled content ranging from 25 percent to 50 percent. Over at Lanificio Reggiani, the 50-year-old mill partnered with MinervaHub. Companies within the latter's Ornaments Business Unit have reinterpreted legacy Lanificio Reggiani textiles via innovative techniques, such as Jato1991's hand-crafted manipulations and embroideries, Trapuntatura Belpunto's industrial quilting and stitchwork, and Quake's embroidery. In a partnership of similar scope, leading tannery Rino Mastrotto Group and the Marzotto Group have revealed the creation of Jacqart — Trame d'Arredo, a company specialized in the production of high-quality jacquard fabrics and velvets. The new company results from the merger of Imatex, controlled by Rino Mastrotto and specialized in jacquard fabrics for interiors, and Prosetex, owned by Marzotto Group and focused on high-end jacquard velvets. The merged entity will create synergies including the optimization of raw material sourcing and an expanded product offering for the residential, hospitality, aviation, naval, and public transportation sectors. 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Exclusive-Blackstone drops out of consortium bid for TikTok US, source says
By Dawn Chmielewski and Krystal Hu (Reuters) -Private equity giant Blackstone has withdrawn from a consortium seeking to invest in TikTok's U.S. operations, a source familiar with the matter told Reuters on Friday. The latest change came as uncertainty has mounted and there have been several delays in the TikTok deal now at the center of U.S.-China trade talks. Blackstone had planned to take a minority stake in the TikTok U.S. business in a deal orchestrated by President Donald Trump. The consortium is led by Susquehanna International Group and General Atlantic, current investors in TikTok's Chinese owner ByteDance. The group had emerged as the front-runner to secure TikTok's U.S. business in a deal under which U.S. investors would own 80% of TikTok, while ByteDance would retain a minority stake. Blackstone declined to comment. TikTok did not immediately respond to a request for comment. The deadline for ByteDance to divest the popular social media app in the U.S. has been repeatedly postponed, creating uncertainty for investors. Last month, Trump signed a third executive order extending the deadline for ByteDance to sell TikTok or face a ban, moving the cutoff to September 17. In April 2024, Congress passed a law mandating a sale or shutdown of TikTok by January 19, 2025. Extensions to the deadline have drawn criticism from some lawmakers, who argue the Trump administration is 'flouting the law' and ignoring national security concerns related to Chinese control over TikTok. ByteDance is exploring various options to address these concerns, including selling or restructuring its U.S. operations. The Chinese social media giant, which raked in $43 billion in the first three months of this year, recently surpassed Meta in quarterly revenue, sources told Reuters. The U.S. consortium, favored by the administration in any TikTok deal, also includes KKR, as well as new investors such as Andreessen Horowitz, Reuters previously reported. Oracle is also likely to take a stake. It is unclear whether other bidders in the consortium are still involved. A deal had been in the works this spring to spin off TikTok's U.S. operations into a new U.S.-based firm. Talks were put on hold after China indicated it would not approve the transaction, following Trump's announcement of steep tariffs on Chinese goods. If a sale is finalized, the new U.S. app is expected to be owned by a joint venture formed by an American investor consortium and ByteDance, which would maintain a minority stake. TikTok is already working on a U.S.-specific app, sources told Reuters. Blackstone's exit highlights the complexities and uncertainties involved in the deal, as the ongoing talks over TikTok's fate have now become part of Trump's broader trade negotiations with China, and Trump said he would speak to President Xi Jinping about it. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
