- DOW DROPS: Stocks fell sharply Wednesday as oil prices soared and investors anticipated mediocre same-store sales results, which are released today. The Dow Jones Industrial Average lost more than 200 points, closing at 12,814.35, while the broader S&P 500 sank 1.8 percent to 1,392.57. The S&P Retail Index slid 1.6 percent to end at 402.63. Among the largest retail declines, shares of Limited Brands Inc. fell 2.4 percent to $17.62, Pacific Sunwear of California Inc. declined 4 percent to $12.37 and Macy's Inc. declined 2.6 percent to close at $24.73.
- ANOTHER ESCADA BIDDER?: Tchibo Holding's Michael Herz is considering taking a stake in Escada, according to a report in German financial daily Handelsblatt. Herz is said to have been granted access to Escada's books after having talks with major Escada shareholder Rustam Aksenenko. The newspaper said Herz, like the global equity firm Apax — which officially broke off negotiations with Escada in March — is also eyeing former Hugo Boss chief executive Bruno Sälzer as Escada's new head. Herz is a co-owner of Maxinvest International Inc., which owns the coffee roaster and retailer Tchibo as well as a major stake in Beiersdorf. The German paper said Escada and the Herz family declined to comment.
- JAEGER LE COULTRE TRIES U.S. RETAIL: Fine watch brand Jaeger Le Coultre is opening its first stores in the U.S. The first will open on June 1 in Boca Raton, Fla. The opening is in partnership with jeweler Les Bijoux, located at 306 North Plaza Real. The second will open later this year at 9490 B Brighton Way in Beverly Hills. Jaeger, owned by Compagnie Financière Richemont, celebrates its 175th anniversary this year and focuses on horological technology. It is best known for its Reverso watch featuring a flip-over case.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews