- MCCOMB'S COMPENSATION: William L. McComb, chief executive officer of Liz Claiborne Inc., pulled in total compensation of $6.3 million last year, his first full year on the job, according to a filing with the Securities and Exchange Commission on Wednesday. His pay included a salary of $1.3 million, stock and option awards valued at $4.5 million, a bonus of $325,000 and other compensation, including $6,634 in apparel and more than $113,000 for an apartment the company leases for him. McComb took over the helm of the vendor in November 2006, and received total compensation of $944,000 for that period. Michael Scarpa, chief operating officer, saw his compensation rise 8.4 percent to $2 million. Andrew Warren, chief financial officer, earned $1.3 million, and Jill Granoff, executive vice president for direct brands, received $1.4 million. Warren joined the company last year. There was no compensation listed for Granoff for 2006.
-TALBOTS STOCK RISES: Talbots Inc. stock gained 15.7 percent to close at $13.89 in trading on the New York Stock Exchange Wednesday, a day after the company revealed a three-year plan to turn around its struggling business. Trudy Sullivan, president and chief executive officer, intends to revamp the specialty retailer to appeal to a new generation, with timeless classics. In a note, Todd Slater, retail analyst at Lazard Capital Markets, said the primary goal of the merchandise team is to become more "design" oriented. -COTTON PRICES TO INCREASE: Global cotton prices are forecast to increase 10.1 percent this year, compared with last year's 4.4 percent boost, with demand from Asian nations making up for the economic slowdown in rich Western nations, said a report from the United Nations Commission for Africa. The projection bodes well for African cotton-exporting nations such as Benin, Burkina Faso, Chad and Mali that are positioned to supply expanding Asian economies like China and India. As a result, the agency expects African economies to grow by more than 6 percent this year, following last year's 5.8 percent expansion. The report warns, however, that there's a risk in 2008 "of a sharper slowdown in the U.S. economy and a fall in global commodity demand and prices." The study said Chinese cotton imports have contributed to "41 percent of the growth of cotton exports of all cotton-producing countries in Africa," and contributed to an estimated 1.1 percent economic growth of these countries.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion