Tandy Brands Accessories Inc. plans to cut nearly a third of its workforce and streamline its product offerings and facilities as the company continues to battle a financing crisis brought on by a difficult holiday season.
Tandy, which has been out of compliance with the profitability requirements of its $35 million credit facility with Wells Fargo since last month, expects to realize between $6 million and $7 million in annualized expense savings through the job cuts, the closure or reduction of four of its eight leased facilities and the relocation of its gifts distribution function from the current base in Dallas to a third-party provider in California. Less specifically, the firm said it plans to eliminate low-volume products, reduce the amount of risk associated with the problematic gifts business and emphasize licensed and high-volume private label products.
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive