Brian Marley, Belk Inc.’s executive vice president and chief financial officer, will retire in May and be succeeded by Adam Orvos, currently executive vice president of human resources.
Marley, a 12-year veteran of Belk, will serve as a consultant to the store for a year after he retires to assist in the transition and advise on financial matters. He will still serve on the investment committee of The Belk Foundation and the advisory board of the Belk School of Business at UNC-Charlotte. Marley was instrumental in establishing expense controls, capital planning processes and cash-management practices, enabling the department store chain to emerge from the recession with a strong balance sheet and more than $500 million in cash. Marley led the sale of Belk’s credit-card portfolio to GE and structured the financing of Belk’s acquisitions of the Proffitt’s/McRae’s and Parisian. He also spearheaded a capital allocation process that strengthened Belk’s balance sheet and supported growth initiatives.
Orvos joined Belk in 2006 as senior vice president of finance and corporate controller and was promoted to his current position in 2009. He began his retail career in 1987 with the May Department Stores Co. in St. Louis, serving as a senior vice president and cfo of the Foley’s division. “His experience as the chief financial officer of a division of May Department Stores and three years as our corporate controller have prepared him well for his new position. Adam is a talented executive and strategic thinker,” said Tim Belk, chairman and chief executive officer.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion