Neiman Marcus Group Inc. chief executive Burton M. Tansky, who always bristles at the notion of retiring and turns 70 next month, has renewed his contract for another two years. The contract was set to expire in October 2008 but has been extended to October 2010. Tansky declined to comment on the contract. He has been at the helm of the Dallas-based chain since the early Nineties and has kept the business focused on luxury and profitability. A Securities and Exchange Commission filing, which disclosed the contract renewal, lists Tansky's base salary at $1.3 million. The agreement also provides that the employment will automatically be extended for one-year periods after the term of the agreement expires unless, at least six months prior to the commencement of any one period, Tansky or the board decides it's time for him to retire. Tansky also serves as chairman and president of the corporation. Last October, the Neiman Marcus Group formed an office of the chairman, throwing the spotlight on two veteran officials, Karen Katz and James Skinner, as leading contenders to one day succeed Tansky. Katz is president and ceo of the Neiman Marcus Stores division and, as part of the chairman's office, she has the additional role of executive vice president of the group, entailing responsibilities for strategy, business development and marketing. Skinner, senior vice president and chief financial officer, is included in the office of the chairman as well and is also executive vice president and chief financial officer of the group, with responsibility for information services. The agreement calls for Tansky to work with "reasonable diligence" to identify a ceo successor, though the board can still undertake its own search. There has been widespread speculation that NMG, which Texas Pacific and Warburg Pincus bought in 2005 for $5.1 billion, could go public early next year via an initial public offering. The $4.4 billion company has been on a roll for years, and the luxury sector is generally holding up despite the nation's economic uncertainties stemming from the housing slump, credit crunch and rising fuel costs. The stock market and Wall Street bonuses have also abetted luxury sales, but both are shakier now. Still, Neiman's has been able to weather both good and bad economic times under the direction of Tansky, and his contract extension would give him time to guide Neiman's through an IPO.
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)
"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot with @itsclo3d. #wwdfashion (📸: @cjw.photo)
“Shudu is a digital supermodel, a very glamour and amazing woman. But she’s 3-D,” says Cameron-James Wilson, a fashion photographer and the creature of @shudu.gram. Here, Shudu wears @cushnieetochs for her debut fashion editorial. #wwdfashion (📷: @cjw.photo)
“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)