Hartmarx Corp. is believed to have confidentiality agreements in place with seven potential bidders, all of whom have either submitted, or are in the process of submitting, bids for parts of the bankrupt firm’s assets, according to financial and market sources.
The deadline for submitting bids was late Monday. There are at least three financial players and three strategic buyers. Hartmarx officials declined comment.
The three financial players include Mistral Capital Management, Versa Capital Management and a financial group led by designer Joseph Abboud. Bids from Versa as well as Mistral, a special purpose acquisition company connected to Andrew Heyer, but separate from the Mistral entity that bid previously for Hartmarx before the stalking horse was named, have already been submitted. Mistral is believed to be interested in Monarchy, Exclusively Misook and Christopher Blue brands. It could not be determined what labels Versa, which specializes in distressed situations and has in its portfolio Polartec and Bob’s Stores, is interested in.
The group led by Abboud includes a Chicago-based private equity firm, and is said to involve a Florida-based financial investor as well. At press time, Abboud’s group had not yet placed a bid, according to sources. His group is believed to be interested in Hickey Freeman, and possibly Hart Schaffner Marx. Calls to Abboud were not returned by press time.
On the strategic side, bids have been received from Affliction Holdings, Perry Ellis International and Western Glove Works. Affliction Holdings is affiliated with Affliction brands, according to sources, who said it is interested in Monarchy. Perry Ellis is said to be eyeing golf brand Bobby Jones, and possibly one other label. Western Glove is a Canadian firm based in Winnipeg, Manitoba that is believed to be interested in Christopher Blue. Western Glove manufactures Victoria Beckham’s dVb line.
Sources said there was at least one other possible bidder for the men’s brands Hickey Freeman and Hart Schaffner Marx.
An auction is set for Wednesday. The stalking horse bid from London-based Emerisque and its investment partner SKNL at $128.4 million is for the entire firm. Depending on the course of the auction, there is the possibility of a breakup of the brands under the Hartmarx umbrella.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)