In Brief: Polo’s Outlook … Summer Heat … Sephora’s Canadian Unit
POLO’S OUTLOOK: Standard & Poor’s Ratings Services on Tuesday revised its outlook on Polo Ralph Lauren to stable from negative and affirmed the “BBB” corporate credit and unsecured debt ratings of the fashion firm....
POLO’S OUTLOOK: Standard & Poor’s Ratings Services on Tuesday revised its outlook on Polo Ralph Lauren to stable from negative and affirmed the “BBB” corporate credit and unsecured debt ratings of the fashion firm. Analyst Susan Ding wrote in her report, “The outlook revision follows S&P’s review of the company and reflects Polo’s strong business position, as well as the expectation that the company’s financial measures will continue to improve.” She noted the company was able to quickly produce the spring 2004 Lauren line after regaining the license in a dispute with Jones Apparel Group. The spat between the two apparel firms over the Lauren license resulted in a $550 million breach-of-contract lawsuit against Polo, which isn’t expected to go to trial until next year.
SUMMER HEAT: Maintaining double-digit momentum this summer after an uneven spring, Swedish fashion giant Hennes & Mauritz said Tuesday its year-over-year July sales advanced 14 percent, excluding the impact of currency exchange. Sales in June were up 15 percent. Earlier in the year, H&M had blamed lower prices for what it called inadequate increases. The firm reports its nine-month results Sept. 30.
SEPHORA’S CANADIAN UNIT: Buoyed by brisk online sales in Canada, Sephora is Toronto-bound, and plans an early-November opening in the city’s Eaton Centre shopping complex. The 5,100-square-foot space will mark Sephora’s first Canadian door, and will open a year after the company began selling to Canadians through its Web site. “We got seriously interested in Toronto last fall. We spent two or three days in the market and just fell in love with it,” said David Suliteanu, Sephora’s president and chief executive officer of North American operations, adding that the company is very close to signing for a second Toronto store. “Based on our research, once we’ve developed it, Toronto could be in the top three of our North American markets.” The product mix will follow Sephora’s standard approach, Suliteanu said, while adding a few local touches, spotlighting Canadian brands like Cargo and Dessert and becoming the first North American Sephora to carry Biotherm, which is said to be extremely popular in Canada. Suliteanu added that Toronto is just the beginning, and he’s looking to open Sephora stores throughout Canada.
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)