Executives of PVH Corp., J.C. Penney and other retailers, along with the Retail Industry Leaders Association, met with Treasury Secretary Steven Mnuchin to discuss tax reform, and while nothing definitive came of the meeting, retailers felt they were “heard.”Brian Dodge, RILA’s executive vice president of public affairs, said the meeting with Mnuchin focused generally on tax reform, but admitted that “no conversation of taxes would be complete” without a discussion of the much-maligned border adjustment tax, which, as proposed by House Republicans, would see imported goods taxed more heavily.Those in attendance at the closed-door meeting included PVH chief executive officer Emanuel Chirico, J.C. Penney ceo Marvin Ellison, VF Corp. ceo Steve Rendle and Chico’s ceo Shelley Broader.Dodge declined to say directly whether he felt the meeting went well, instead saying “at a meeting like this, you hope for an opportunity to present the facts as we see them, and we believe we had an opportunity to do that.”He also noted that Mnuchin was “generous with his time” and took about an hour for the meeting.“We got to make clear that the industry is very supportive of tax reform this year and we [understood] that appropriate tax reform is a priority for the administration as well,” Dodge said.He added that the retail executives were able to lay out their issues with the BAT tax “and the harm it poses to consumers and the industry.”Representatives of PVH, VF, Chico’s and J.C. Penney could not be immediately reached for comment on the meeting.As for why the retail industry is so supportive of the administration and its as-yet vague plans for tax reform — with only “broad strokes” having been discussed publicly — Dodge pointed to the high effective tax rate global brands are currently dealing with.Assuming that tax reform from the Trump administration means a lower corporate tax rate, Dodge said capital could be used by retail companies for reinvestments, growth and hiring more people, “things that are good for the economy.”Dodge went on to say retailers want the ability to “repatriate” a larger chunk of their global earnings, which are currently taxed by the U.S. He mentioned the possibility of moving to a “territorial” tax system, which Mnuchin has mentioned but left largely unexplained. Dodge said such a system would see companies pay tax in the territories where they earn “and nowhere else.”As for the likelihood of tax reform happening this year or any additional specifics on reform proposals, Dodge admitted today’s conversation “didn’t get to that level.”“Were eager to work with the administration to achieve tax reform,” Dodge said. “What we heard this morning is that the administration is eager to get it done.”For More, See:Mnuchin, Trump's Treasury Secretary Pick, Steps Down From Sears, CIT BoardsRetailers, Brands Launch Coalition to Fight Border Adjustment TaxRetail CEOs Talk Border Tax, Regulations With TrumpRetail, Tech Cos. Tell Trump to Keep Reform-Minded Patent Leader
For its next men’s wear collection, @roberto_cavalli will show as a special guest at #PittiUomo, running from June 12-15. The brand, which has Florence in its roots, will relaunch its men’s wear collection, which will be presented separately from women’s wear for the first time since Paul Surridge was appointed creative director in May. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech at the @sxsw conference for @createcultivate, the online platform and conference series for women. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.