TOKYO — Isetan Mitsukoshi Holdings said March 7 that its president and chief executive officer, Hiroshi Onishi, will step down from his position. The company said the reason for the change is “to attempt to elevate the business value even more by implementing a complete change of the management structure.”Onishi will remain ceo until the end of this month, and will be succeeded by Toshihiro Sugie on April 1. Onishi will remain a member of Isetan Mitsukoshi’s board for the time being, but is expected to retire from that position at the shareholders’ meeting scheduled for June.Kunio Ishizuka, the chairman and representative director of Japan’s largest department store operator, is also expected to retire at the June meeting. No announcement has been made regarding Ishizuka’s successor.Sugie, now 56 years old, joined Isetan in 2012. His current position within Isetan Mitsukoshi Holdings is director and general manager of the company's strategic planning headquarters.As more and more younger consumers change their spending habits to buy online and from smaller retailers, Japan’s department stores have suffered in recent years. During his tenure as president and ceo, Onishi worked to turn Isetan Mitsukoshi’s business around by focusing more on opening smaller, specialized stores such as the chain of semiself-selection beauty stores called Isetan Mirror, a luxury travel store at Tokyo’s Haneda International Airport, and a concept shop called Isetan Salone in Tokyo’s Roppongi district. It has also expanded its international reach with concept stores in Paris and Kuala Lumpur, Malaysia.Still, all these changes have yet to produce a substantial business turnaround for one of Japan’s leading retailers. Profits have continued to fall, having recently taken a hit due to slower growth in the number of international tourists entering Japan.Isetan Mitsukoshi is predicting a 51 percent drop in net profit for the fiscal year ending March 31. It expects its yearly operating profit will take a hit of 27.5 percent.
For its next men’s wear collection, @roberto_cavalli will show as a special guest at #PittiUomo, running from June 12-15. The brand, which has Florence in its roots, will relaunch its men’s wear collection, which will be presented separately from women’s wear for the first time since Paul Surridge was appointed creative director in May. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech during @sxsw for @createcultivate in partnership with @fossil. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.