One retail analyst, who requested anonymity, said Tuesday that Lands’ End is a different business today than it was when it was a public firm in early 2002, before it was acquired by the former Sears, Roebuck & Co. for $1.9 billion. Edward S. Lampert, who acquired the former Kmart Corp. out of bankruptcy, subsequently merged Sears with Kmart, and the two entities became Sears Holdings Corp.
This analyst, while not criticizing the efforts of Lands’ End chief executive officer Edgar Huber, was critical of what he perceived to be a lack of investment by Lampert over the years in the Lands’ End business. He also said not only has that hurt the quality of the Lands’ End product, but also that the rent Lands’ End owes Sears for its 250 shops-in-shop presence in Sears stores is an expense it probably doesn’t need given that the bulk of the Lands’ End business is online.
In the past year, Lampert has been in discussions with two private equity firms regarding the sale of the Lands’ End business, financial and market sources said. These individuals also said that while those discussions centered around a sale price of $1.2 billion, Lampert was said to have wanted closer to $2 billion early in the process and then $1.5 billion late last year. Instead of a sale of the business, Sears completed the spin-off of Lands’ End on Friday.
Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge
Jewelry label @alisonlou has made a name for itself with fine jewelry that speaks to the Millennial market. Now @twallz21 reports that the label is bringing those playful ideas to a new affordable line of lucite hoops with the launch of Loucite by Alison Lou. Here’s a look from the line modeled by @emrata. #wwdaccessories
@sarahjessicaparker and @gilt are teaming up on a bridal ready-to-wear line. Tomorrow, Parker will launch SJP by Sarah Jessica Parker Bridal — and as part of the launch, Gilt will offer 15 exclusive styles from the SJP by Sarah Jessica Parker footwear collection that were designed to complement the new line. Made out of 10 styles, the line is designed for a variety of occasions, from bridal showers to receptions. Get more details on WWD.com #wwdfashion
A grooming moment between @tanfrance and @antoni last night at the The LGBT Community Center Trailblazer Awards honoring Anna Wintour, Ricky Martin and more. See more photos at WWD.com #wwdeye (📷: @lexieblacklock)
“It was a very surreal feeling. It wasn’t like we were in the studio together coming up with it — it’s more like he discovered it and loved it. I didn’t let myself get my hopes up, but then it happened it was very exciting,” said singer-songwriter @nombe on discovering that @pharrell would be using his song, “Cant Catch Me” on his HBO documentary series “Outpost.” The German-born singer — named Noah MacBeth — talked to WWD about feminism, using art as a platform for political expression and personal style. Read more on WWD.com #wwdeye (📷: @jilliansollazzo)
This season, denim is going west – in influence. Brands like @fathersdaughterla (pictured here), @tommyhilfiger Jeans, @levis and more are opting for raw, top-stitching styles. (Styled by @thealexbadia; 📷: @ryanplett)