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.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)