ITALY’S PRADA TO BUY RIVAL VERSACE FOR 1.25 BN EUROS. (PHOTO).

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 Italy’s Prada to buy rival Versace for 1.25 bn euros Italian fashion house Prada announced Thursday that it had reached a deal with US group Capri Holdings to buy Versace for 1.25 billion euros ($1.39 billion). The acquisition will create a luxury group with revenues of over six billion euros that could better compete with industry giants such as the French conglomerates LVMH and Kering amid a slowdown in the sector worldwide. “We are delighted to welcome Versace to the Prada Group and to build a new chapter for a brand with which we share a strong commitment to creativity, craftmanship and heritage,” Prada group chairman and executive director Patrizio Bertelli said in a statement. In 2018, Capri paid €1.83 billion (then $2.1 billion) to acquire Versace, which was previously owned 80 percent by the Versace family and 20 percent by the US investment fund BlackRock. Amid declining sales, it put the Milan-based label up for sale, and began exclusive negotiations with Prada at the en...
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TONY OKOROJI REMOVED AS COSON CHAIRMAN YESTERDAY TO BE REPLACED BY TUFACE MANAGER EFE OMOROGBE.{PHOTOS}.

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Image may contain: 1 person, smiling, camera          Copyright Society of Nigeria (COSON), Africa’s fastest growing collective management society for musical works and sound recordings on Thursday, December 7, 2017 announced a change in its leadership with the appointment of Efe O. Omorogbe as its new Chairman.
The announcement was made after thorough deliberations with members of the COSON Board which lasted several hours at the COSON House.
Speaking on the recent development, COSON Director and Co – founder Naija Ninja, Dare ‘Baba Dee’ Fasasi said, ‘‘The change is occasioned by the need to reposition COSON and lead it to its new era. It is time to consolidate on our gains and ensure that we get the society to the place of our dreams.’’
‘‘On behalf of the Board and members of COSON, we want to thank Chief Tony Okoroji for his relentless service during his time as Chairman of this great society. It is on record that during the tenure of Chief Tony Okoroji, COSON made giant strides such as the commissioning of the magnificent COSON House; the first of its kind in the Nigerian music industry, the launch of COSON’s digital licensing platform, CLAP, amongst several other key projects. His tenure also brought about the collection and distribution of royalties by COSON yearly without fail since its approval in Nigeria. The remarkable achievements made are visible for all to see and are a lasting legacy of the work of Chief Tony Okoroji. However we are confident that we are moving forward in the right direction and we know that COSON will continue to benefit from Chief Okoroji’s reservoir of knowledge and goodwill’’ said Mr Obi Asika, COSON Director and Co-founder CABAL Ent.
The COSON Board also used the opportunity to reassure the public that COSON remains a world class CMO and operations will not be affected by the change.
Efe Omorogbe has consistently taken up frontline roles in the struggle to institute far-reaching reforms within the Nigerian music industry in the areas of product packaging and pricing, collective administration, piracy control, general regulation and information management amongst others.Mr Omorogbe, who served on the interim board at inception, was elected into the COSON Board on May 8, 2012 and takes over from Chief Tony Okoroji as Chairman of the society.Though another source {name withheld} said his removal was in connection of the last COSON Week.More details later.One more photo below.
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