- BUYING BACK: Gottschalks Inc.'s board approved a share buyback of up to 2 million shares of its common stock, the retailer said Monday. "The company will finance the purchase of the shares through cash and borrowings upon the completion of its newly amended credit agreement with GE Financing," the firm said in a statement, adding the buyback is part of the retailer's previously announced "value improvement program" and that James Famalette, chairman and chief executive officer, "is a key component of our overall efforts" to improve shareholder value.
- RICHEMONT BUY: In a move to increase its in-house manufacturing capacity, Compagnie Financière Richemont said it acquired the component production facility of the Geneva-based watch brand, Roger Dubuis. "We anticipate using that capacity to provide materials for our own house brands," said Alan Grieve, director of corporate affairs for Richemont, which counts the likes of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne in its portfolio. The distribution rights for Roger Dubuis timepieces in key markets such as the U.S. and the Middle East is also part of the deal.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"