Shares of Nordstrom Inc. spiked 8.8 percent in after-hours trading following talk that the retailer was close to a deal with private equity firm Leonard Green & Partners to take the company private.Word first surfaced in June that the Nordstrom family was considering the move so it can make investments in the company without having to deal with being under the proverbial “glass fishbowl.” That fishbowl often subjects public firms to the intense scrutiny and criticism of investors.Shares of Nordstrom were trading at $49.00 at 5:22 p.m. That’s compared with Tuesday’s closing price of $45.05.Family members have said that they do not intend to sell their shares. They own a 31 percent stake in the company. A deal with any investor would be an assist in acquiring the public shares that are being traded. The thinking has been that an investment by an outside investor for $1 billion would likely translate to at least $5 billion in debt.CNBC, which first reported about Nordstrom and Leonard Green moving closer to a deal, said about $7 billion to $8 billion in debt would be needed to finance the deal.Executives at both Nordstrom and Leonard Green could not be reached by press time.Joel Bines, managing director and cohead of the retail practice at AlixPartners, said taking the company private translates into "having more time and fewer prying eyes as the company figures out which ingredients it will use to go into the recipe for the cake that they will ultimately bake for the future. For sure, they are experimenting. Nobody knows what the answer is for Nordstrom or any other retailer. We are writing the book while we are living in it…This is about trying to figure out how to stay relevant and figure out how to compete in an environment that is changing daily and has no precedent."
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)