- VERSACE SALES UP: Revenue at Gianni Versace SpA grew 7.7 percent in 2007 to 310.6 million euros, or $425.8 million at average rates of exchange, the company said Sunday. Cash on Versace's balance sheet totaled 4.4 million euros, or $6 million. The firm's plan to focus on business in Asia this year could make the region Versace's second largest market after Europe, replacing the U.S. Men's wear will also be given more attention. -LEJABY SOLD: The Warnaco Group said it inked a deal to sell its Lejaby business to Palmers Textil AG for $65 million. The transaction is for about $47 million in cash and $18 million in an "interest-free note" due in 2013. Warnaco stated that "terms of the transaction include a customary working capital adjustment and the provision of temporary transition services to Palmers Textil AG." Warnaco is looking to close the deal during the current first quarter.
- HAMPSHIRE GETS CREDIT: Apparel maker Hampshire Group Ltd. said that it received a five-year, $125 million senior secured revolving credit facility from a lending group led by HSBC, despite the difficult credit market. The facility replaces a $100 million credit line that would have expired last Friday. The increase has been issued so the company can execute its long-term growth strategy.
- CAVALLI INVESTS: Roberto Cavalli has bought a stake in fancy yarn spinner Lineapiù. Cavalli's slice of the company is 4 percent, the remaining ownership divided between private investors, a pool of banks and the Coppini family — president Giuliano Coppini founded the company 33 years ago. "The amount Cavalli has invested isn't important, it's the fact this famous designer believes in the company and in knitwear — and this will give us a push forward," said Coppini. The Tuscany, Italy-based designer also said he and Lineapiù's other owners have given the spinner a cash injection of 5.5 million euros, or approximately $8 million. Lineapiù forecast consolidated 2007 sales of approximately 90 million euros, or $123.37 million.
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