– TAHARI DEPARTURE: Husein Jafferjee, Elie Tahari Ltd.’s executive vice president and chief operating officer, is leaving the company Feb. 1. Jafferjee has been with Tahari for eight years. The company has started the search for his successor, expected to be named soon.
This story first appeared in the January 23, 2008 issue of WWD. Subscribe Today.
– SHAREHOLDER SUPPORTS KELLWOOD: In the public struggle for ownership of Kellwood Co., the St. Louis-based vendor just got a vote cast for rejecting Sun Capital Securities Group’s unsolicited $21 a share tender offer. The support came in a letter Friday from Towle & Co., a St. Louis-based portfolio manager that controls more than 500,000 shares — or about 2 percent — of Kellwood common stock and has for “many years.” Calling Sun’s bid “low-ball” and “an insult to you and your thousands of hard-working employees,” president J. Ellwood Towle asked Kellwood’s board to fight the hostile takeover. “It’s simply not right to sell Kellwood in 2007 at 1996 prices,” said the letter, originally dated after Sun’s first offer and resent last week. “Sun strikes when Kellwood is most vulnerable.” Towle’s letter follows one last week from Discovery Group, an institutional money manager that holds a 1.5 percent stake in Kellwood, which said it intends to submit its 391,100 shares of Kellwood stock to the Sun offer.
– LAUREN’S CANCER CENTER: The Ralph Lauren Center for Cancer Care and Prevention will open a new 2,700-square-foot endoscopy wing in Manhattan’s Harlem, made possible by a $2.5 million gift from the Polo Ralph Lauren Foundation. The wing will be used to perform colonoscopy screenings as well as other endoscopic procedures. Ralph Lauren, chairman and chief executive officer of Polo, will participate in the dedication ceremony on Jan. 28 from 8:30 to 10 a.m. at the Ralph Lauren Center at 1919 Madison Avenue.