TARRANT FOUNDERS BUY COMPANY: Tarrant Apparel Group, a Los Angeles-based private label manufacturer, said it agreed to sell its outstanding publicly held shares to its founders, Gerard Guez and Todd Kay, for $15.2 million. The purchase is conducted as a merger with Sunrise Merger Co., which will sell the outstanding shares not already owned by Guez and Kay to Sunrise Acquisition Co. Guez, who serves as Tarrant’s chairman and interim chief executive officer, and Kay, who is Tarrant’s vice chairman, both are members and managers of Sunrise Acquisition. Sunrise Acquisition will pay 85 cents a share in cash, representing a 130 percent premium over Tarrant’s closing price Thursday on the Nasdaq.
JAPAN RETAIL NEWS: A major department store in Osaka, Japan, is changing hands. Seven & I Holdings Co. Ltd. said Thursday it has agreed to sell its Sogo flagship on the bustling Shinsaibashi strip to Daimaru Inc. for 37.91 billion yen, or $391.10 million. The move will greatly enhance Daimaru’s presence in Osaka. Daimaru, a subsidiary of J. Front Retailing Co. Ltd., already has its own store next door to Sogo and hopes to cut costs by running the stores integrally, the company said. The Sogo property will be handed over at the end of September while a reopening date is tentatively set for November.
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18