WASHINGTON — The top executives of several retailers and apparel brands sent a letter Wednesday to House Speaker Nancy Pelosi (D., Calif.), Senate Majority Leader Harry Reid (D., Nev.) and Republican leaders urging them to refrain from voting on legislation that would impose sanctions on imports from China.
Chief executive officers H. Lee Scott of Wal-Mart Stores Inc., William L. McComb of Liz Claiborne Inc., A.J. Lafley of Procter & Gamble Co., Wesley R. Card of Jones Apparel Group Inc., Burt Tansky of the Neiman Marcus Group Inc., Mackey McDonald of VF Corp., Mark Parker of Nike Inc., Robert Skinner of Kellwood Co. and Myron E. Ullman 3rd of J.C. Penney Co. Inc. joined the top executives from Columbia Sportswear Co., Chico's FAS Inc., AnnTaylor Stores Corp. and Warnaco Inc. in expressing their concern to lawmakers about China legislation.
"We, for example, are opposed to bills and amendments that establish unilateral trade penalties that will likely be found to violate our international obligations and invite reciprocal action," the fashion industry chiefs said in the letter. "We believe a more effective and prudent course of action is to continue to engage directly with the Chinese government on issues of mutual concern."
House Democratic leaders have said there is not enough time to consider legislation targeting China's undervalued currency practices this year, but they plan to take it up next year. They and domestic textile firms charge that China undervalues its currency by not floating it on the open market and illegally subsidizes its industry, thereby exposing U.S.-made product to unfair competition.
The Bush administration has tried to urge the Chinese through diplomacy to reform their currency policy, but recently brought a case to the World Trade Organization over unfair subsidies.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion