In Brief: Tommy Update … Paying for Barneys … Award Time
TOMMY UPDATE: Tommy Hilfiger Corp. said Wednesday that it has obtained waivers from its bank group for an affiliate, Tommy Hilfiger U.S.A. Inc. The credit facility is to expire on July 1. The waivers were necessary to prevent defaults under the...
TOMMY UPDATE: Tommy Hilfiger Corp. said Wednesday that it has obtained waivers from its bank group for an affiliate, Tommy Hilfiger U.S.A. Inc. The credit facility is to expire on July 1. The waivers were necessary to prevent defaults under the facility because of the firm’s delay in filing its financial information for the quarter ended Sept. 30 with the Securities and Exchange Commission, which was due Nov. 9. The waivers are effective until March 15. The delay was partly caused by Hilfiger’s launch of an internal probe into payments made to an affiliate over a buying office’s commissions rate. The company is under investigation by federal prosecutors in Manhattan. It has received a grand jury subpoena seeking documents relating to the payments.
PAYING FOR BARNEYS: Jones Apparel Group said Wednesday it plans to raise $750 million through the sale of senior debt securities. Proceeds will be used to pay for the manufacturer’s $400 million acquisition of Barneys New York, slated to close by the end of the year, and the repayment of other debt under its senior credit facilities. The issuance will be split up into securities maturing in five, 10 and 30 years.
AWARD TIME: Movado president and chief executive officer Efraim Grinberg was honored along with filmmaker Martin Scorsese and artist Nam June Paik at the Arts & Business Council’s annual Corporate Leadership Awards on Monday at New York’s Gotham Hall. Grinberg was given the Kitty Carlisle Award in honor of Movado’s support of culture and the arts. Proceeds from the event benefited the Art & Business Council’s programs, which provide financial resources to art organizations in New York and across the country.
“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)