• BULGARI SHARES FALL: Shares in Bulgari SpA fell the most in more than five years on the Milan Bourse Monday. The decline came after the Italian jeweler on Friday narrowed its full-year guidance to the lower end of estimates following a drop in second-quarter earnings. HSBC was among bank and securities firms to cut ratings or share price estimates on the stock, downgrading Bulgari to “neutral.” “The bulk of the downward revision is coming from the watch segment, which we believe will be the most impacted by the economic slowdown,” HSBC analyst Antoine Belge wrote in a note. Bulgari closed down 8.3 percent to 6.33 euros, or $9.86 at current exchange. Following the close of trading on Friday, Bulgari reported that second-quarter profits fell 8.8 percent to 31.4 million euros, or $49.1 million at average exchange.
• HAMPSHIRE, KUTTNER PEACE DEAL: Hampshire Group Ltd. and its former chief executive officer Ludwig Kuttner have resolved their dispute concerning Kuttner’s alleged fraud, mismanagement and tax evasion during his tenure. The company has purchased almost 2.4 million shares of its common stock, about 30 percent of those outstanding, from Kuttner, his family and an affiliate for $5 a share, or a total of almost $12 million. Pursuant to the purchase, Kuttner paid Hampshire nearly $1.6 million, netting the former chief executive and his family and affiliates about $10.4 million. Both Kuttner’s complaint against Hampshire for wrongful discharge and Hampshire’s suit against Kuttner have been withdrawn. Michael Jackson, Hampshire’s chairman, said “the resolution of the arbitration and the Delaware litigation with Mr. Kuttner will eliminate both an ongoing cost and the burden that litigation imposes on Hampshire stockholders and management.” Kuttner was dismissed in 2006.
• BURANIS TO INCREASE HOLDING: Italy’s Mariella Burani Fashion Group SpA said Monday that controlling shareholder the Burani family was finalizing a public tender offer for a further 15 to 18 percent of the company at a price of 17 euros, or $26.47 at current exchange, to 18 euros, or $28.03, a share. Mariella Burani said last month that the family would create a special-purpose vehicle for part or all of the outstanding stock, which could lead to a delisting from the Milan Stock Exchange STAR segment for small companies. Mariella Burani closed down 3.5 percent to 15.50 euros, or $24.13.
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye