In Brief: Fortunoff Still Seeking Funds … Debt Issue … Star Power …
FORTUNOFF STILL SEEKING FUNDS: Fine jewelry and home furnishings retailer Fortunoff is continuing talks with investment companies to raise capital for expansion, but a spokeswoman for the company denied any knowledge of Apollo Management L.P....
FORTUNOFF STILL SEEKING FUNDS: Fine jewelry and home furnishings retailer Fortunoff is continuing talks with investment companies to raise capital for expansion, but a spokeswoman for the company denied any knowledge of Apollo Management L.P. and its potential bid for the company, as reported in the New York Post Monday. She also declined to comment on whether or not the family-owned firm is up for sale. “We remain engaged in a lot of discussions with the investment community as a whole,” the spokeswoman said. “Our purpose is to create a strong company with deeper financial resources...[The article in the Post] is speculation and gossip. We’re looking at all investment opportunities.” In April, Fortunoff confirmed it had retained investment banker Peter J. Solomon to explore financial opportunities. Apollo representatives declined comment on Monday.
DEBT ISSUE: Movado Group Inc. said on Friday that it issued $20 million worth of unsecured seven-year senior notes, with the proceeds from the sale to be used for payment of maturing debt, funding expansion of Movado boutiques and general corporate uses. The notes, with an interest rate of 4.79 percent a year, will be amortized over four years starting in 2008, when the Paramus, N.J.-based firm will then make semiannual interest payments. The issuance is a drawdown on Movado’s $40 million private shelf debt agreement from March 21, 2001, as amended.
STAR POWER: Gwyneth Paltrow’s Tod’s purse bag and note fetched $4,050, Sarah Jessica Parker’s Andrew Marc jacket and book went for $2,650 and Tommy Hilfiger’s bomber jacket brought in $512 at an online auction sponsored by “Good Morning America” and eBay.com to aid victims of the recent hurricanes. The 10-day auction of some 30 celebrity items brought in a total of $20,565.48, which will go to the American Red Cross Disaster Relief Fund.
TUMI ADDS STORE: Tumi is planning to open its fifth New York unit on Nov. 19. Located at 102 Prince Street in SoHo, the 1,000-square-foot boutique will offer Tumi’s entire collection, which includes women’s and men’s luggage, business cases and leather goods. Steve Lochte from Brand & Allen Architects in San Francisco created the space’s interior, which will feature large, floor-to-ceiling red-and-white wall panels; bamboo and stainless steel details, and the space’s original maple floors and iron columns.
Exclusive: Nicola Formichetti is parting ways with @diesel after nearly four years. Formichetti, who served as Lady Gaga’s stylist in 2009, joined Diesel in 2013 as creative and artistic director. His first show debuted in Venice with a show held at the Venetian Arsenal. #wwdfashion #wwdnews
The polo shirt - an icon of preppy style - is roaring back into fashion in many creative guises, like this A-line polyester top from @carven, worn with @31philliplim cotton and elastane pants. Designers stretched a fashion classic into all kinds of new permutations this season. See how @mayteallende styled the preppy trend on WWD.com #wwdfashion (📸 : Kinya)
(Market Editors: @andrew_shang and @elmercer, Makeup: @amandawilsonmakeup using @fentybeauty, Hair: @gonn24, Model: @bara_holotova at @women360mgmt)
“I do like period [projects] a lot because I like creating those worlds, a world that is different from today," costume designer Mark Bridges said about the '50s British couture featured in @phantomthread. Bridges created the overall aesthetic and individual fashion looks for the film, which stars Daniel Day-Lewis, Lesley Manville and Vicky Krieps. Pictured here is a gown he designed for Krieps who plays Alma – the love interest of Day-Lewis' character, Reynolds Woodcock. #wwdfashion
@prada is embracing the holiday season with a series of short movies about the art of gift-giving. "The Postman's Gifts", which was directed by American filmmaker Autumn de Wilde, focuses on the brand's signature Prada Galleria bag and features Elijah Wood as the postman. In the first two episodes, Wood's delivers the iconic bag to @emmaroberts, who plays herself as a movie star, and Sasha Frolova. #wwdfashion
“I think I never met the person while we were working,” Vicky Krieps said of Daniel Day-Lewis, who she plays the love interest of in “Phantom Thread.” Day-Lewis remained perennially in character, so much so that she feels she’s just meeting him now. “It’s interesting to see how different he is in real life to the character,” Krieps said. WWD sat down with the 34-year-old actress to talk about her new role in the period film, which brings the fifties’ gender dynamics into the mix. Read more on WWD.com. #wwdeye (📷: @lexieblacklock)
@gucci has expanded its “Places” project to include six new cities. The initiative, which was first unveiled in July, aims to invite people to explore inspirational locations for the brand. On the list is the Biblioteca Angelica library in Rome pictured here. See the other five new venues on WWD.com. #wwdfashion (📷: @massimo_listri_official)
#ad From tools to lashes, WWD rounded up wellness and beauty products guaranteed to take your skin care and makeup routines to the next level in 2018. Follow along as @laceandleatherbyelyse, @ashnfashn and @elleisalwayshere experiment with these products on their Instagram profiles and blogs. #NewYearBetterYou
Blogger @camilacoelho is one of the fastest growing beauty influencers around the world. The bilingual blogger has worked with brands like @revolve Beauty, @dior, @louisvuitton and more and has an Earned Media Value of $34,338,441, according to @tribedynamics. But Coelho isn’t the only influencer making a major impact — head to WWD.com to see the other fastest-growing influencers in six key global markets. #beautyfridays (📷: @zefashioninsider)