• REVLON EXTENSION: The term of Revlon Inc.’s $107 million senior subordinated term from Ronald Perelman’s MacAndrews & Forbes Holdings Inc., Revlon’s majority owner, has been extended one year, until Aug. 1, 2010. The principal would come due immediately upon consummation of Revlon’s previously announced equity rights offering, which would raise the $107 million by allowing stockholders to purchase additional shares of Class A common stock. Revlon said it is “monitoring the financial markets closely to assess the appropriate timing” for such an offer. The loan, with Revlon’s Revlon Consumer Products Corp. subsidiary, was originally for $170 million, but Revlon paid down $63 million with the proceeds from the July sale of its noncore Brazilian brands, generating $7 million in annual interest savings, according to the firm. The loan can be prepaid without penalty and bears annual interest of 11 percent payable quarterly. It is unsecured and subordinate to RCPC’s senior debt.
Breaking: @cushnieetochs’ co-founders @carlycushnie and @ochsmichelle are parting ways. After a 10-year run, Ochs is leaving the brand. Get the full story on WWD.com – link in bio. #wwdnews #wwdfashion
@maybelline’s Kanako Takase had snow bunnies in mind when creating the beauty look for @philipppleininternational. Playing off of the bedazzled snowboards in the collection, Takase mixed two highlighters together for a luminous sheen. #wwdbeauty #nyfw (📷: @jilliansollazzo)
“There’s a huge gap between the old way of doing things and today. It takes the youth to help evolve that. You have to count on the kids today to help lead you into the future. A lot of these retailers are stuck in the past. Communication is the biggest thing,” said @ronniefieg of @kith on the youth’s role in retail. On Monday night, Jeff Staple moderated a keynote session with Fieg and @syresmith at Assembly - a series of workshops, talks and keynotes addressing topics or issues in the apparel industry. Head to WWD.com to read more advice from Fieg and what Smith thinks of his dad @willsmith’s Instagram account and sustainability (📷: @weston.wells)
@joansmalls closed the @michaelkors fall 2018 show in black sequined pants and a varsity T printed with 19 on the front and 81 on the back. 1981 – the year Kors went into business. #wwdfashion #nfyw (📷: @giovanni_giannoni_photo)
“You think your life is going to be a certain way, and nothing you thought would happen ends up happening. Never in my wildest dreams did I think I’d be designing clothes and working with Mickey Drexler, and building something I’m deeply proud of,” said Jenna Lyons. Nine months after leaving @jcrew, Lyons is exploring the meaning of happiness. Read the interview, where Lyons talks about reinvention and more on WWD.com – link in bio. #wwdfashion (📷: Farrell) #jennalyons #jcrew