Seven down in 2007 — nine more brands to divest of in 2008.Since Liz Claiborne Inc. said on July 11 that it was putting 16 of its brands under review, the industry and investment community alike have been waiting to see how long it would take to dispose of the brands, how much they would sell for and what would happen to their brand equity given their uncertain futures.The $4.99 billion firm accepted formal offers from what it has called "serious bidders" for the nine contemporary, better, bridge and active brands last Friday. Dealing with these higher-margin businesses has been tagged "Phase II" of the review process by the firm. Now that bids are finally in, negotiations can begin.Claiborne has declared it will complete the review process on the remaining brands by the end of the first quarter next year, and chief executive officer William L. McComb said he is optimistic the process could be completed even sooner, based on industry interest.According to sources, while many companies are interested in the brands — Dana Buchman, Ellen Tracy, Sigrid Olsen, Enyce, Prana, Mac & Jac, Kensie, Laundry and C&C California — fewer are interested in the hefty prices Claiborne is asking.The conglomerate — which is holding onto its direct "power brands" Juicy Couture, Kate Spade, Lucky Brand Jeans and Mexx — is also giving preferential treatment to bidders that will buy packages, according to sources. For example, Claiborne is hoping to sell Dana Buchman, Ellen Tracy, Sigrid Olsen and other brands in one transaction, a process that has made some buyers, who want some but not all of the brands, skittish.Companies can still bid for a single brand, though. For example, Schottenstein Stores Corp., which owns retailers including American Eagle Outfitters and Filene's Basement and which acquired Adrienne Vittadini in December of last year, put a bid in for Laundry by Design. G-III Apparel Group Ltd. is in the bidding for Ellen Tracy, said a source. G-III currently has the Ellen Tracy licenses for outerwear, as well as suits and dresses. Enyce, Prana and C&C California all also appear to have found separate strong buyers, according to a source.
Everyone from industry observers to McComb himself has agreed the sooner the process can be completed, the better for all parties. Retailers have been buying the brands' merchandise conservatively, uncertain of their new owners and distribution channels. Also, even with Claiborne's incentives to keep employees on during the review, retaining talent in times of uncertainty is always a concern.In September, Claiborne completed "Phase I," settling the fates of its seven moderate brands. Li & Fung USA, a subsidiary of Li & Fung Ltd., bought four of Claiborne's moderate brands — Emma James, Tapemeasure, JH Collectibles and Intuitions — via its Regatta division. Li & Fung president Rick Darling has denied his company was entering a second round of bidding for additional brands.
“I design by visualization. I see things, and most of the time they’re not practical to actually make, and what I’ve found here, it’s like anything’s possible. This is the first time that I’ve made a sole unit in two months. That process usually would take six, so here’s a difference,” said @virgilabloh of the first sneaker sample he created for @louisvuitton, pictured here. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion (📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)