• 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 Both Kuttner’s complaint against Hampshire for wrongful discharge and Hampshire’s suit against Kuttner have been withdrawn.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.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
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