Scott Edmonds’ compensation more than doubled in his final year as chairman and chief executive officer of Chico’s FAS Inc., and the entire increase and more than half his pay were attributable to his severance package. Edmonds, who stepped down as ceo in January to be succeeded by David Dyer, former Tommy Hilfiger and Lands’ End chief, saw his total compensation rise to $8.7 million last year, up about 130 percent from $3.8 million in 2007. Of the 2008 total, $4.4 million was related to “accrued post-termination benefits.” In addition, his stock and option awards totaled $3.1 million, up from $2.7 million in the previous year, according to the company’s proxy filing with the Securities and Exchange Commission. Michele Cloutier, who was replaced as president of the Chico’s brand by Cynthia Murray in February, received almost $862,000 in severance, slightly less than half of her $1.8 million pay package. Including severance, her 2008 compensation rose 35.7 percent above 2007. At Phillips-Van Heusen Corp., Emanuel Chirico, chairman and ceo, took a 26.5 percent pay cut last year to $4.9 million, including a salary of $1 million, incentive pay of $1.9 million and option awards valued at $1.8 million. Allen Sirkin, president and chief operating officer, saw his compensation fall 36.2 percent to $2.7 million last year, while executive vice president and chief financial officer Michael Shaffer registered a 39.5 percent drop to $982,578. Tom Murry, president and ceo of the Calvin Klein unit, took a 53.6 percent pay cut to $1.3 million, and vice chairman for wholesale apparel Francis “Ken” Duane saw a 33.1 percent drop in his compensation to $1.8 million. Stock and option awards are reported based on SEC accounting guidelines. The amounts reported in these categories were not necessarily realized because of vesting schedules and changing stock prices.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim