Sun Capital Securities Group LLC has completed its $762 million cash tender offer to purchase all outstanding shares of Kellwood Co.After attracting another 2.5 million shares by its extended Friday night deadline, the private equity firm now has 93.7 percent of the St. Louis-based vendor's outstanding stock.Sun Capital had secured 81.9 percent of Kellwood's outstanding stock, including its own preexisting 11.4 percent stake, by its original Tuesday night deadline. After achieving the majority, the company extended a subsequent offer until Friday for the same $21 a share. Sun Capital's wholly owned subsidiary, Cardinal Integrated LLC, has accepted all shares that were validly tendered and not properly withdrawn for payment, and plans to pay promptly $21 each, according to the company. The remaining approximately 6 percent of shares that were not sold to Sun will be converted, subject to appraisal rights, into the right to receive $21 a share in cash.Kellwood will become a wholly owned subsidiary "as soon as practicable," according to Sun, and Kellwood's common stock will be delisted from the New York Stock Exchange.Last week, there were several changes to Kellwood's board. Directors Ben Blount, Kitty Dickerson, Jerry Hunter, Phillip Miller and Robert Siegel all resigned Wednesday, according to a filing with the Securities and Exchange Commission. Sun filled four of the open slots with Jason Bernzweig, Mark Brody, Christopher Metz and Christopher Thomas.
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