- CEO OUT: The Children's Place Retail Stores Inc. said Wednesday that its chief executive officer resigned after an internal investigation revealed violations of the company's policies and procedures. Ezra Dabah stepped down from the position, and the board has named Chuck Crovitz, a current board member, as interim ceo. An investigation by the company's audit committee showed that in two instances Dabah did not comply with The Children's Place internal policies related to securities trades.
- HOLIDAY 2007 GIFT CARDS: The average American family will spend $184 on gift cards this holiday season, according to Archstone Consulting's Gift Card Survey, which examined the shopping habits of more than 1,000 Web users. Gift card purchases are expected to reach a record $35 billion, compared with $27.8 billion last year. The survey found that more than 56 percent of the gift cards are redeemed within the first month of purchase, and 85 percent of all cards are redeemed within three months. Almost 50 percent of the respondents spent more than the value of the card upon redemption.
- WTO TO HEAR U.S. CASE ON CHINA: The World Trade Organization this week established a dispute panel to review a complaint by the U.S. that China doesn't adequately enforce global rules to combat abuse of trademarks and copyright piracy. Foreign producers, including well-known fashion and luxury goods brands, complain that widespread counterfeiting in China costs them billions of dollars each year. Despite claims by Beijing that it is making determined efforts to develop and enforce intellectual property norms, the thrust of the U.S. concern is that "China has not provided for criminal procedures and penalties to be applied in cases of willful trademark counterfeiting or copyright piracy that fail to meet certain thresholds." The U.S. said talks with China "have not resulted in a mutually agreeable solution to our concerns." China countered its intellectual property regime is consistent with WTO rules.
@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)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews