As explained yesterday the specialized media in fashion, 'Fashion Network', Ascential, which is the owner of WGSN and Cannes Lions, announced on Wednesday that put up for sale its service devoted to trends, fashion, beauty, and lifestyle.
As it indicates Fashion Network, Aesential would have evaluated the organisational structure and of capital, looking for the greater possible optimisation to fulfil successfully his businesses and maximizer the value for the shareholders. This operation would mean returning to the shareholders a considerable part of the profits of the sale and will allow the rest of the group to continue growing.
The organisation finds from spring with a strategic review that initiated in spring and a restructuring in the leadership: the current CEO general, Duncan Painter, will turn into CEO of the business of digital trade that contributes in stock exchange. Philip Thomas, the current CEO of Ascential Intelligence and Events, will be the new CEO of Ascential plc.
"Ascential Has had an excellent final of the year. The results of the digital trade in particular, taking into account the difficult context, illustrate the clear competitive advantage that provides to the marks that operate in the markets, where follow having a rare and significant opportunity of growth", indicated the CEO of Ascential, Duncan Painter.
It took advantage of the occasion to inform of the significant growth of the division of marketing, the good performance of the division devoted to the design of products to the equal that of the division of digital trade, which registered a spectacular growth of the income.