NEW YORK — As sources say that the three firms potentially interested in buying HMX Group have now signed confidentiality agreements with the company, a former bidder — Ron Burkle’s Yucaipa Cos. — is again eyeing its brands.A spokesman for Yucaipa confirmed the private equity firm's interest in HMX. "Ron has great relationships with the unions and they asked him to take a look," according to the spokesman. If it does enter the fray, it won’t be the first time Burkle has made a run at HMX: his private equity firm bid for certain assets when the then Hartmarx Corp. voluntarily filed for Chapter 11 bankruptcy court protection in 2009. Back then, Yucaipa was only interested in the brands, such as Hickey Freeman and Hart Schaffner Marx, and not the firm’s factories. Financial and market sources said they expect Yucaipa to enter the bidding after a bankruptcy filing takes place.RELATED STORY: HMX Under Pressure, Decision Expected Soon >>Yucaipa is not currently in the bidding mix. The three firms that are currently in talks with HMX are Authentic Brands, Iconix Brand Group and Bluestar Alliance.S. Kumar’s Nationwide Ltd. acquired Hartmarx during the bankruptcy in 2009 and renamed the new operating firm HMX Group.One stumbling block, as it was in the 2009 bankruptcy, is the factories that are under HMX’s ownership. Private equity firms want just the intellectual property assets. Even strategic firms prefer just the brands. The factories are in some respects outdated and poorly configured, said one individual who requested anonymity.Should the IP assets get sold if a bankruptcy filing were to occur, and the factories shut down, that would be a blow to HMX’s “Made in America” stance, particularly as more smaller apparel firms and fashion brands are seeing the benefits of increasing their production in the U.S.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. 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