WWD sat down with West Coast factoring executives earlier this year to discuss industry trends. Brands emerged as a key one for the year. Investors looking to purchase recognizable brands end up paying top dollar these days, as much as 75 or 80 percent more than they did a decade ago, according to roundtable participants. Liquidity in the market has helped drive valuations up, they said. With brands so popular, factors said they were increasingly approached to lend against “alternative assets.” The panelists included: Ron Vanek, executive vice president and western regional manager of GMAC Commercial Finance; Harry Friedman, senior vice president of Rosenthal & Rosenthal; David Reza, senior vice president, western region, of Milberg Factors, and Kevin Sullivan, executive vice president and western region manager of Wells Fargo Century.
WWD: Are you finding yourself lending against different types of assets?
Kevin Sullivan: The intellectual property issue is connected to the whole issue of valuations. Players within the marketplace see where the valuations are headed and suddenly everyone wants to monetize that brand to the greatest extent they can. We are asked to lend against IP to a much greater extent. To do that within the marketplace, it’s certainly an area that you’re going to have to be able to consider if you want to remain competitive.
Ron Vanek: As part of the (recently more robust) mergers and acquisitions activity, we have to look at ourselves not as just factors but as somebody who can provide financing; someone who can do the lenders’ buyout financing, who can offer some effective unsecured pieces to maintain our touch on those deals so they don’t just go away to a whole different end of the financial marketplace, to the structured finance people.
Harry Friedman: It’s a question of the structures, being able to structure the deal. We’ll consider any type of collateral that makes sense.
David Reza: You almost have to (lend against alternative assets) or you may be left behind. A lender is a facilitator. If it’s a product that’s not in your suite of services, then you have to make sure that you bring to the table a partner who will help the client achieve its goals.
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye