STEVE & BARRY’S DELAYED: Another day, another delay for the sale of bankrupt retail chain Steve & Barry’s. The hearing for bankruptcy court approval of the impending sale was postponed for a third time Wednesday. A source with knowledge of the negotiations said Bay Harbour Management is still the likely buyer, but that delays were required to allow the parties extra time to hammer out the deal’s finer points. The New York investment firm was announced as the stalking horse bidder earlier this month with an offer of $163 million. A hearing for court approval of the planned sale to Bay Harbour is now set for 11 a.m. today in a Manhattan bankruptcy court. Meanwhile, lawyers for professional basketball player Stephon Marbury’s Starbury brand filed legal papers alleging Steve & Barry’s owed it more that $2.1 million in unpaid royalties, according to documents filed in Manhattan federal court on Monday. The Starbury lawyers are trying to have the case tried out of federal court instead of having it stay under bankruptcy court jurisdiction.
ADIDAS RATING CUT: With the Olympics in full swing, one of its high-visibility sponsors, Adidas AG, saw its stock downgraded by investment firm HSBC. In a research note published Monday, HSBC said the German activewear giant has bright short-term prospects, but the outlook darkens after 2009. “We believe Adidas will feel pressure both on gross margins, from limited pricing power and rising input costs, and on EBIT, from rising advertising and promotion spending,” the report said. “We expect Asian sales growth to moderate in 2009, growth in Europe to halve and see no reason why the U.S. market should not remain more or less flat for the foreseeable future.” The bank cut its rating on Adidas to “underweight” from “neutral.” The change in rating follows a downgrade of Nike Inc. last month.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty