FUNG CAPITAL BUYS AMIES: Fung Capital, the private investment vehicle of Victor and William Fung, controlling shareholders in Hong Kong-based Li & Fung Group, has acquired the struggling London fashion house Hardy Amies for an undisclosed sum. Fung Capital has bought assets including the Hardy Amies and Norman Hartnell brands, the lease to the company’s Savile Row store and all the group’s licensing agreements. “This is a long-term investment in the Hardy Amies brand, from which we are looking to generate licensing income,” said a spokeswoman for Fung Capital. Last month, Hardy Amies filed for administration, the U.K. equivalent of Chapter 11, following problems with its funding. The spokeswoman for Fung Capital added that Hardy Amies would remain headquartered in Savile Row. The company’s five remaining U.K. stores will close by the end of November and the label’s historic couture business also will close.
GREEN TAKES MOSS BROS. STAKE: His negotiations to buy all or part of Baugur’s debt may be on hold, but that hasn’t stopped Sir Philip Green from making a move on the troubled Icelandic company’s Moss Bros. subsidiary. On Wednesday, Green said his family investment company, Warbeck, had purchased a 28 percent stake in Moss Bros., the British men’s chain, for 6.7 million pounds, or $10.3 million at current exchange. Green is considering making a bid for the remaining shares. A spokeswoman for Green described Moss Bros. as a “one-off opportunity,” and clarified that it was not directly related to the larger negotiations. Last month Green began negotiating to buy Baugur’s debt, which would allow him to take over such British retailers as Oasis, Karen Millen, Principles, Warehouse and Shoe Studio. Those negotiations are on hold as Iceland’s government sorts out the future of the country’s banks, which hold the bulk of Baugur’s debt.
NEXCEN’S NEW FINANCE CHIEF: NexCen Brands Inc. has promoted Mark Stanko to chief financial officer. Stanko will maintain his cfo responsibilities at NexCen subsidiary NexCen Franchise Management Inc., a position he has held since joining the firm in April 2008. As cfo, he succeeds Kenneth Hall, who became chief executive officer after the resignation of Robert D’Loren in August. In other appointments, Martin Amschler was named chief development officer for NexCen Franchise Management and William Dolan was tapped for the new post of assistant controller of NexCen Brands. Also joining NexCen Franchise Management is Pam Price as vice president of domestic development.
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)
@denimdaysfestival, which initially launched in Amsterdam in 2014 and has since expanded to New York, is heading to Nashville for the very first time. The two-day festival, which will take place in November, will feature brand activations, hands-on workshops by artisans and denim mills, a vintage market, live entertainment, and local food and drinks. Get all the details on WWD.com. #wwdnews #wwdfashion
Later this month, the popular “Diana: Her Fashion Story” exhibit will be reopening. @historicroyalpalaces, the charity that manages @kensingtonroyal, has been working towards adding new, never-before-seen garments to the exhibit, including this dress created by Gianni Versace for a fund-raising dinner at the Museum of Natural History in Chicago. The exhibit will reopen on April 26 at Kensington Palace @wwdfashion
“Our family has always been engaged and interested in the world around us. [My brothers and I] were always encouraged to have our own opinion at a young age, which is not always something a child is asked — especially to have an opinion with reasoning behind it,” said @yarashahidi on becoming an activist. We caught up with the 18 year old last week, where she talked about her road to acting, how “Black-ish” led her to start conversations about identity and more. Head to WWD.com to read what she had to say #wwdeye (📷: @chelsealaurenla)