• BUXBAUM STALKING HORSE FOR S&K TRADEMARKS: The Buxbaum Group has been chosen as stalking-horse bidder for the intellectual property of the now-defunct S&K Menswear chain. S&K filed bankruptcy in February, and its 105 stores were liquidated by Gordon Brothers Retail Partners beginning in May after the company was unable to find a buyer or the financing to continue to operate. That process has been completed, according to Margaret Birlem, a partner in Streambank LLC, an advisory firm specializing in intangible assets. Streambank has reached a deal to sell S&K’s intangible assets to Buxbaum for $165,000. This includes the store name as well as its private brands Roberto Villinni, Kilburne & Finch and Daniel Gray, and its database of more than 2.5 million customers. The Buxbaum offer is subject to higher and better bids and bankruptcy court approval. S&K has filed a motion with the court seeking approval of the sale procedures, setting a bid deadline of Nov. 6, and an auction date of Nov. 10.
This story first appeared in the October 20, 2009 issue of WWD. Subscribe Today.
• BUY RESPONSIBLE CAMPAIGN BOWS: The International Organization for Migration launched a campaign in Brussels on Monday, aimed at creating greater consumer awareness of goods manufactured by trafficked and exploited workers worldwide. The campaign, titled “Buy Responsibly,” was designed by Saatchi & Saatchi Geneva and features TV spots to run in Europe of exploited workers trapped under an upside-down shopping cart. The IOM initiative is also backed by the Clean Clothes Campaign alliance, the Council of Europe and the Ecumenical Council for Corporate Responsibility. The IOM said about 800,000 people are trafficked across international borders annually and more than 12 million people are estimated to be in forced or bonded labor and working in appalling conditions, including some in textile mills and apparel sweatshops, but primarily in agriculture and construction. Campaign organizers are telling shoppers to find out where the food and goods are processed or manufactured to avoid indirectly supporting slave labor with their purchases.
• NEW CEO AT TECHNOMARINE U.S.: Steven E. Cohen has been named chief executive officer of TechnoMarine in the U.S. Cohen has more than 20 years of experience in the fine watch sector, with stints as president of Movado Group’s Canadian division and as the American president of Ebel, also under the Movado flagship. Based in Miami, Cohen will shuttle to and from Geneva, where the watch company is based. Cohen reports to Vincent Perriard, who was appointed ceo of TechnoMarine Group in August after leaving Movado Group Inc., where he was president of the Concord brand.
• GALA HELD: The second annual perfumery industry gala for La Fondation Motrice, a foundation for research into cerebral palsy, took place Thursday night at the Observatory in Paris. One hundred and eighty people attended, including Andrea Casiraghi, the organization’s patron, and Iman. At least 22 beauty companies were represented. Fun-filled festivities high above Paris’ rooftops involved operatic performances, a magician deft with disappearing tricks and combustion, plus a lively raffle.