WWD is reporting that Palace has been in talks to sell a stake of the company in a similar move to the one made by Supreme in 2017. Lev Tanju is remaining tightlipped about the deal for now. But WWD’s sources are saying that clandestine talks aided by Rothschild bank have been going on behind closed doors in recent months.
According to sources, the London-based firm has held under-the-radar discussions in recent months to sell a stake.
The likelihood of a deal could not immediately be learned, and talks are described as being at the exploratory stage. It is understood the process is being aided by investment bank Rothschild.
Founder Levent Tanju did not respond to repeated requests for comment.
Palace’s plan to ascend to corporate levels of financing being made public puts a new spin on Blondey McCoy’s exit to start his own deal. But as long as Lev is still working his magic in iMovie, fans shouldn’t lose any sleep over who’s bankrolling the company.