CtW Investment Group, which invests pension funds sponsored by seven unions that own less than 1 percent of Kellwood Co. stock, has urged the company's board to name a special committee of independent directors to explore strategic alternatives, including selling the troubled $1.6 billion vendor.
Pressure has been mounting on the St. Louis-based apparel company since private equity firm Sun Capital Securities Group, its second-largest shareholder, issued — then reissued — an unsolicited $543 million bid for Kellwood in the fall. Kellwood twice turned down the $21-a-share offer, saying it undervalued the company.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"