In Brief: Settled … Unifi to Close Irish Plant … Burani Sales Gain
SETTLED: Movado Group Inc. said Wednesday it reached a settlement in the lawsuit against Swiss Army Brands along with two former employees, Susanne Rechner and Todd Cozzolino. The suit was filed in November 2001 and alleged that Swiss Army...
SETTLED: Movado Group Inc. said Wednesday it reached a settlement in the lawsuit against Swiss Army Brands along with two former employees, Susanne Rechner and Todd Cozzolino. The suit was filed in November 2001 and alleged that Swiss Army Brands interfered with Movado’s business by soliciting sales employees. It was also discovered that some former employees went to work for Swiss Army Brands, spokesmen for Movado Group said. In an April 8 trial, the jury ruled in favor of Movado, awarding $3.4 million for monetary damages. Swiss Army Brands appealed, but before the scheduled hearing, both groups agreed to settle out of court. As a result of the settlement, Movado will earn a pretax gain of $1.9 million in its second quarter ending July 31. After accounting for fees and taxes associated with the settlement, the company’s second-quarter income will see a gain of approximately $835,000, or about 3 cents per diluted share.
UNIFI TO CLOSE IRISH PLANT: Fiber and yarn maker Unifi Inc. said Wednesday it plans to close its textured yarn plant in Letterkenny, Ireland, at the cost of 300 jobs. The closing will result in a restructuring charge of $20 million to $24 million. The firm said it will continue to ship U.S. and Asian yarns to the European market. Greensboro, N.C.-based Unifi said in a statement that the factory had been “unprofitable for a few years now.”
BURANI SALES GAIN: Mariella Burani Fashion Group’s sales growth slowed in the second quarter from the first three months of the year, but the company still saw a high double-digit jump in first-half sales. Burani said preliminary sales for the six months ended June 30 rose 16 percent to about 199 million euros, or $244.3 million at the average exchange rate, driven in part by strong sales in areas such as Russia, Eastern Europe and the Far East. Sales growth in the first quarter was 17.9 percent. Meanwhile, Burani said it will open 20 stores in the second half of this year, including its second Mariella Burani Details concept store dedicated to the group’s leather goods brands, Braccialini, Baldinini and Francesco Biasia.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)