Lamb & Flag is described as a sexy, denim-driven youth apparel brand with American iconography (despite being named after a pub in London). The concept was given the go-ahead by former Kellwood Co. chief executive officer and current J.C. Penney Co. Inc. chief operating officer Michael Kramer, who envisioned it becoming a 700- to 800-door chain.
Jill Granoff, who became ceo of Kellwood in May, said Kellwood was taking a new strategic direction with its brand portfolio that involved no longer investing in start-up concepts that have a long-term payback, rather focusing resources on businesses with the greatest growth potential and profitability.
The decision to divest of Lamb & Flag came six months after the company unveiled its first store at the Brea Mall in Brea, Calif. The company opened two subsequent units at The Shops at Mission Viejo and Los Cerritos Center, also in California. A spokesman for Hilco Streambank said Kellwood “didn’t [have time] to market or focus on marketing Lamb & Flag,” so Hilco was hired for its expertise. He declined to give the asking price, but said Hilco is open to and entertaining all offers.
Selling a fully developed brand with a retail concept, three stores and a Web site isn’t something that comes along often, the spokesman said. “This is a unique situation,” he explained. “A lot went into creating it. [Kellwood] felt this would take attention away from other brands” such as Vince, Rebecca Tayor, David Meister and Sag Harbor.
“It would be an interesting house brand [for a retailer such as Wal-Mart or Kohl’s],” the spokesman said. “Or, it could work with an existing retailer that wants to open another concept aimed at a different customer. It’s a brand that resonates and has a unique position.”
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