CARREFOUR'S SPANISH FOOTPRINT: Carrefour, the world's second-largest retailer behind Wal-Mart, on Monday strengthened its position in the competitive Spanish market by buying 250 hard discount stores. The French firm said it would acquire the Plus store chain from Spain's Tengelmann for 200 million euros, or about $275.6 million at current exchange. The transaction was conducted through Carrefour's Dia subsidiary, which already runs 2,806 stores in the country with sales last year of 3.5 billion euros, or $4.45 billion. Carrefour has struggled in France because of cooled consumer spending and discount competition. The firm has been unloading less-profitable operations in Japan, South Korea and Mexico, while bulking up in promising markets. In April, Carrefour bought 34 discount hypermarkets in Brazil for more than $1 billion.
H&M JUNE SALES: Hennes & Mauritz on Monday said sales in June advanced 17 percent, edging most analysts' consensus expectations. On a like-for-like basis, the Swedish fast-fashion firm said sales grew 5 percent. Last month, H&M's like-for-like sales declined 2 percent. At the end of June, H&M had 1,420 stores.
GALERIES LAFAYETTE ACQUISITION: Groupe Galeries Lafayette, the French department store operator, said Monday that it acquired two watch chains — Louis Pion and Royal Quartz — from France's Groupe Sofidi for an undisclosed sum. The transaction bolsters Galeries' watch distribution network, which already counts 110 Watch Me, EuropaQuartz and Goldy stores. Louis Pion and Royal Quartz, which stock luxury and fashion watches, operate 20 stores, mostly in Paris and French airports. The deal signals more consolidation among European department stores. Last year, Italy's La Rinascente purchased the Printemps department stores from PPR, parent of Gucci Group. In recent weeks speculation mounted that Galeries Lafayette had its eye on Britain's Debenham's department stores, which Galeries denied.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews