As talk of a possible acquisition circulates, Elizabeth Arden Inc. is getting its house in order, disclosing the first details of the company’s restructuring plan.
The plan, which was first disclosed in May and approved by Arden’s board on Monday, calls for reducing head count; exiting underperforming businesses, retail doors and fragrance licenses; discontinuing certain products, and shuttering the Puerto Rico affiliate. The effort, dubbed the Performance Improvement Plan, is expected to yield annual savings of approximately $27 million to $35 million, according to the company, and is part of a larger restructuring and cost-cutting program intended to wring out $40 million to $50 million in annual savings once fully implemented.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)