DAMIANI IPO PRICE SET: Italian jeweler Damiani SpA's IPO price has been set at 4 euros per share, or $5.80 at current exchange rates, on the lower end of its preliminary price range. Damiani's shares were initially valued at 3.80 euros to 5.20 euros per share, or $5.51 to $7.54. Damiani said Sunday that investor demand for its shares was about three times the size of the offer. As reported, Damiani family members are selling 26.36 million shares, or about 31.9 percent of their company. Damiani shares will debut on the Milan stock exchange Thursday. Based on the offer price, the company will have an initial market capitalization of 330.4 million euros, or $479.37 million.
CHANGES AT MARIMEKKO: Marimekko Corp., the Helsinki-based manufacturer and marketer of textiles and apparel, has said chief executive Kirsti Paakanen will step down in February after 16 years. She will be replaced by Mika Ihamuotila, who will become the company's shareholder of reference, with a 20 percent stake. The company said in a statement last week that Ihamuotila would "promptly start to prepare the future development" of the 56-year-old firm. On his agenda: international expansion with more retail outlets outside Europe. Marimekko currently operates 26 shops with only two units outside Finland, in Germany and Sweden. "It is my aim to start building Marimekko into a cult brand within clothing, interior decoration and lifestyle, as well as a company that has an international distribution network, a passionate staff, and a market value multifold from today," said Ihamuotila.
“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)