• ASPEN CLOSURE: Even though Aspen, Colo.’s climate seems like a suitable environment for all kinds of fur, J.Mendel decided not to renew its lease at 461 East Hopkins Avenue there. The unit is expected to close at the end of this month. President and chief operating officer Susan Sokol said that the location “was far too removed from where the action is in that town. We have been very focused on improving our retail mix of locations. J.Mendel is only interested in opening freestanding boutiques in the most prime locations in the world.” J.Mendel has freestanding stores in such locations as Madison Avenue in New York, Rue Saint-Honoré in Paris, North Michigan Avenue in Chicago and Stoleshnikov Pereulok in Moscow.
This story first appeared in the March 3, 2009 issue of WWD. Subscribe Today.
• WATERFORD WEDGWOOD FINDS BUYER: The U.K. and Irish businesses of Waterford Wedgwood, the 250-year-old company that produces Wedgwood tableware, Royal Doulton china and Waterford crystal, has been sold to KPS Capital Partners, a New York-based private equity group. Closing of the transaction, which requires KPS to purchase some of the company’s overseas assets and is believed to include its U.S. business as well, is expected in March. The company was placed into administration — the U.K. equivalent of Chapter 11 — in January after failing to execute a financial restructuring due to poor market conditions. A spokeswoman for Deloitte, the company’s administrator, did not disclose the price KPS would pay.