Recruitment firm 24 Seven Inc., which specializes in the fashion, beauty and retail sectors, said Monday it has closed on the acquisition of staffing company Gromwell Group.
A Manhattan bankruptcy court judge last week approved the purchase, which was followed by the transfer of Gromwell's operating assets and employees to 24 Seven.
"The fashion staffing industry is projected to climb to an estimated $200 million in revenues with more demands on creativity, global interface, cutting edge technology, speed, efficacy and top talent," said Celeste Gudas, president of 24 Seven. She noted that the firms are merging to "satisfy the demanding needs of the fashion staffing industry."
Tom Foley, former chief executive officer of Gromwell who will be a c-level executive at 24 Seven, said, "This is the best possible outcome at the best possible time in the economy for the two companies."
Gromwell Group in January filed for Chapter 11 bankruptcy court protection in Manhattan, and had been embroiled in a legal battle with 24 Seven that centered on theft of trade secrets and employment contract violations law. A New York State court awarded 24 Seven $742,000 against Gromwell. In bankruptcy court documents, Gromwell said it filed for Chapter 11 protection to bar 24 Seven from trying to seize assets to satisfy the court award.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@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)