KELLWOOD CLOSES SMART SHIRTS DEAL: Kellwood Co. has completed the sale of its Smart Shirts manufacturing operations and related real estate assets in two separate transactions. Kellwood received approximately $121 million in cash at closing from the sale of the Smart Shirts business from Youngor Group Co. Ltd., and approximately $41 million in cash from Bright Treasure Development Ltd. for Smart Shirts' real estate assets in Hong Kong. The proceeds from the transactions will be used to repurchase shares and reduce debt, including the $80 million accelerated share repurchase program that Kellwood announced on Jan. 3. UBS Investment Bank acted as financial adviser to Kellwood in connection with the Smart Shirts sale. FOREIGN INVESTMENTS SURGE: Boosted by a strong world economy, increased corporate profits and an abundance of cash for cross-border mergers and acquisitions, global foreign direct investment in 2007 reached an estimated record $1.5 trillion, a United Nations agency said Tuesday. The U.S. maintained its position as the largest recipient of FDI with $192 billion, up 10 percent on the previous year. FDI inflows to developing countries and economies in transition also reached a record $438.4 billion, with China the biggest recipient with $67.3 billion. FDI gains were also posted by Brazil at $37.4 billion, up 99.3 percent on 2006; Hong Kong, up nearly 27 percent to $54.4 billion, and Russia, which registered a 70.3 percent increase to $48.9 billion. GOLD STANDARD: Flaxen-haired tennis player — and self-professed bag lover — Maria Sharapova announced the launch of the Sharapova Gold bag collection with Prince. Sharapova will tote the gold nylon bags accented in black at next week's Australian Open. "In my opinion, players should head to the court with equipment that not only delivers in terms of quality and design, but also looks great," said Sharapova in a statement. The collection will range from $50 to $120 wherever Prince products are sold.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim