Steve & Barry’s will close 103 stores, with 24 of them shuttered by Sept. 24, and keep 173 units in operation under its new owners. The plans were disclosed late Tuesday by the retailer, which was purchased with bankruptcy court approval by BH S&B Holdings LLC, an affiliate of Bay Harbour Management and York Capital Management, for $168 million on Aug. 22. Initially, the buyers told the court they would keep at least 107 leases, but the target was to keep 150 stores in operation. There are 79 stores slated to be closed, but there is no shutdown date for them. Steve & Barry’s said they would close soon. A list of all stores and the retailer’s plans for them was posted on the company’s Web site. Steve & Barry’s said Tuesday it will move forward with plans to open “in the next few months” a store at 692 Broadway in New York, a site previously occupied by Tower Records. No other new stores are planned at this time. Andy Todd, president of Steve & Barry’s, said, “We’re finalizing a strategic business plan that will put Steve & Barry’s on track to meet our profitability goals over the long term. The decision to operate with a smaller, more productive store base is integral to that plan.” Like the purchase agreement penned last month, the go-forward plan outlined by the retailer on Tuesday noted the company “will continue offering astonishing values on exclusive celebrity collections created with Sarah Jessica Parker, Venus Williams, Amanda Bynes, Laird Hamilton, Ben Wallace and Bubba Watson.” Its Port Washington, N.Y.-based headquarters, Columbus, Ohio-based distribution center and certain overseas offices were also included in the purchase.
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