VF Corp. is beefing up its contemporary sportswear coalition.The Greensboro, N.C.-based manufacturing giant has acquired one-third of the capital stock of Mo Industries Holdings Inc., owner of the Splendid and Ella Moss women's labels. Terms of the deal were not disclosed, but the acquisition agreement includes a provision allowing VF to acquire the remaining stock early next year."We've stated our intent to grow in the women's contemporary sportswear area, and both the Splendid and Ella Moss Brands have demonstrated impressive growth and the ability to attract a loyal consumer following through superior products," said Mike Egeck, president of VF contemporary brands.VF's contemporary brand coalition was founded in July when the company acquired premium denim brand Seven For All Mankind and women's active lifestyle company Lucy Activewear for an estimated $885 million. Egeck, then chief executive officer of Seven, who had been a VF executive before joining the premium denim firm, was named head of the division."Our vision for these brands is to continue their development with the addition of more products, expanded international distribution and deeper penetration with our existing U.S. retailers," said Moise Emquies, ceo and president of Mo Industries.The Splendid and Ella Moss brands have seen revenues triple since 2004, generating a volume of more than $80 million last year."The deal is a good one for Mo Industries because VF brings a lot to the table, such as its complementary brands like Seven For All Mankind and its experience with global brands," said Fred Schmitt of Sage Group, the investment bank that represented Mo Industries in the transaction.He said Mo Industries has a strong wholesale business and opportunities to expand into different product categories and in direct distribution. Splendid's and Ella Moss' products, such as tops, complement Seven's bottoms, providing possible synergies to VF's operations, he added.Schmitt said Mo Industries is a "highly profitable" firm that is also "fast growing." The current management team will stay on with the company, the banker said.
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