FINALIZED DEAL: In an effort to increase its off-mall expansion, Sears, Roebuck and Co. said Wednesday that a prior agreement with Kmart Holding Corp., in which it will acquire ownership or leasehold interest in 50 Kmart locations for $575.9...
FINALIZED DEAL: In an effort to increase its off-mall expansion, Sears, Roebuck and Co. said Wednesday that a prior agreement with Kmart Holding Corp., in which it will acquire ownership or leasehold interest in 50 Kmart locations for $575.9 million, has been finalized. Sears has paid 30 percent, or $172 million, of the total purchase amount to Kmart and will pay the remainder when it officially takes over the stores around April 2005. In addition to the Kmart transaction, Sears confirmed that it will be making lease payments to Wal-Mart under subleases for six Wal-Mart stores. Thanks to both deals, Sears said it is doubling its store base in San Diego and significantly increasing the total number of stores it has in Florida, the Northeast and Puerto Rico.
GEM SNATCH: Two diamonds, together worth approximately 11.5 million euros, or $14.2 million at current exchange, were stolen Monday from Chopard’s stand at the Biennale des Antiquaires held at Paris’ Carrousel du Louvre. A white 47-carat diamond and a blue 15-carat diamond valued at 6 million euros, or $7.4 million, and 5.5 million euros, or $6.8 million, respectively, were stolen between 3 p.m. and 3:30 p.m. from their glass display case, according to a police spokesman. There were no witnesses. A spokesman for the Geneva-based jeweler confirmed the theft but declined further comment.
SHIP RECH: French fashion house Georges Rech has been granted three months bankruptcy protection by Paris’ commercial court. Owned by Swiss equity firm Leman Capital, Rech employs 230 people in France and 70 abroad. Leman, which recently sold its other fashion interest, Guy Laroche, to Hong Kong’s YGM Trading Ltd., said it was “actively studying financing possibilities to keep the house running.” Rech had sales of about 180 million euros. or $222 million at current exchange, last year, about a third of which came from licensing royalties in Asia, according to Rech’s Internet site.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty