- 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.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)