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.
Yesterday, the Parisian fashion house @azzaro_official cut the ribbon on a temeporary retrospective at the wing of the Musée des Arts Décoratifs in Paris. The exhibition, which shows the lasting influence of the brand’s founder Loris Azzaro, is titled “Azzaro, Fifty Sparkling Years” and presents 50 looks. In it’s ’70s heyday, fans of the brand included Jane Birkin, pictured here, Raquel Welch, Brigitte Bardot and more. See more photos on WWD.com #wwdfashion
@trinaturk and @macys Inc International Concepts line are linking up on a collection for summer — filled with accessories, swimwear and shoes. The collection will also include a Mr Turk men’s line, both of which are the designer’s first entry into a more accessibly priced area. “It’s very world-traveler, gypset-inspired,” said Turk. The Trina Turk x INC line will launch on May 15th. #wwdfashion
Assouline is paying homage to the late Azzedine Alaïa with a reprint of "Alaïa Livre de Collection.” The book is comprised of photographs of the designer's summer 1992 runway show with models Christy Turlington Burns, Naomi Campbell and Tyra Banks, pictured here at right. #wwdfashion #alaia #tyrabanks
Fall 2018 accessories take on a painterly hue, with Nebulas Blue among Pantone’s top 10 colors of the season. (📸: @jonghyupstudio ; editor: @twallz21 ; stylist and set designer: @haideefindlaylevin ) #wwdaccessories
@americanapparelusa is relaunching the brand outside of the U.S. today, opening its online store to more than 200 countries. The company is also contemplating a return to brick-and-mortar, though details have not been confirmed. In tandem with the expanded distribution is a recasting of a social media ad campagn, called “Back to Basics,” pictured here, with a focus on diversity and a cast of models above the age of 21. Read more on WWD.com #wwdnews #wwdfashion
Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge