Shares of Aéropostale Inc. jumped 18.1 percent to $10.17 on hopes that Sycamore Partners, after disclosing it took nearly an 8 percent stake in the teen retailer, would take the chain private.Sources told WWD that Sycamore is considering Aéropostale as its next possible takeover target.The stake was disclosed in a regulatory filing, a Form 13-D, with the Securities and Exchange Commission on Tuesday.Securities rules require firms to disclose whenever they take a stake that is more than 5 percent and become what is then called a “beneficial owner.”In the filing by Hummingbird LLC, which is controlled by Sycamore, the stake held by the private equity firm is nearly 6.3 million shares. The filing said the shares were acquired because of the belief that the stock is “an attractive investment.”The company also said in the filing — using boilerplate language — that there may be discussions with the retailer’s board concerning the chain’s assets, capitalization, financial condition and future plans.In addition, Stifel soft-lines retail analyst Richard Jaffe speculated in a research note Tuesday that Sycamore, through Hummingbird, “will attempt to take the company private.” Jaffe added that if one assumes the same multiple as The Talbots Inc.’s going-private transaction, then the hypothetical per-share acquisition price would be $10 to take Aéropostale private.Sycamore has a history of specializing in the retail and apparel sectors. It previously had a stake in Talbots back in 2011 and then, after months of negotiation, took the retailer private in 2012 in a deal valued at $369 million. Earlier this year, Sycamore acquired teen retailer Hot Topic Inc. for $600 million.Sycamore has been active prowling for deals. It had lengthy discussions with Australian surf brand Billabong, although that didn’t result in any transaction, and now has joined with KKR & Co. for a combined bid for The Jones Group Inc., having made a first-round offer in the summer. Second-round bids in the Jones asset sale are due at the end of the month.
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
“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)