From bloomberg.com:
Prada to Sell Helmut Lang to Focus on Its Main Brands (Update1)
March 17 (Bloomberg) -- Prada Holding NV agreed to sell Helmut Lang, the unprofitable fashion house it bought in 1999, to Link Theory Holdings Co. of Japan.
Prada, which is based in Milan, didn't give the value of the transaction in an e-mailed statement today. The divestment follows Prada's sale last month of Jil Sander AG and completes a plan to focus on its own brands, which include Miu Miu and Car Shoe.
``This is a liberation for Prada,'' said Armando Branchini, vice president of Intercorporate, a Milan-based consulting company, who estimates Helmut Lang's value is about 50 million euros ($61 million).
Helmut Lang, named after its Austrian-born founder, hasn't made a profit since Prada Chief Executive Officer Patrizio Bertelli and designer Miuccia Prada bought it. Lang left the business in 2005 and in the same year, Prada closed its Helmut Lang boutiques and stopped making products under the label. Together with Jil Sander, the brand contributed to Prada's loss of 62 million euros for 2004.
The announcement was made after the Japanese market closed. Shares of Tokyo-based Link Theory today gained 6,000 yen, or 0.9 percent, to 675,000 yen in Tokyo. The company sells clothes under the Theory and Joie brands.
Prada said on Feb. 23 it agreed to sell German fashion house Jil Sander to Change Capital Partners, a London-based private-equity company headed by former Marks & Spencer Group Plc Chairman Luc Vandevelde.
Prada, best known for its black nylon bags and triangular logo, is trying to revive its business after postponing three attempts to sell shares to the public in as many years. "
SO, the article doesn't say anything about who might be designing it. I just hope that they don't get somebody else to do it. I don't see what interest there would be in Helmut Lang without Helmut Lang.
John