DEAL COMPLETE: Christopher & Banks Corp. said Monday after the stock market closed that it has completed the acquisition of 21 Acorn stores from Gilmore Brothers Inc. for $7 million in cash. The Acorn stores, located in nine states, sell...
DEAL COMPLETE: Christopher & Banks Corp. said Monday after the stock market closed that it has completed the acquisition of 21 Acorn stores from Gilmore Brothers Inc. for $7 million in cash. The Acorn stores, located in nine states, sell women’s apparel, jewelry and accessories under private and branded labels. “Acorn provides us a differentiated yet complementary retail concept, which will enhance our strategic growth plans by allowing us to reach a more upscale customer demographic,” said Bill Prange, chief executive officer of Christopher & Banks, in a statement. The company first said it signed a definitive agreement to acquire Acorn on Sept. 28. At that time, management anticipated the acquisition would add $3.5 million in revenues in the fourth quarter and be dilutive to fourth-quarter earnings by 1 cent a share. Minneapolis-based Christopher & Banks currently operates 463 Christopher & Banks and 150 C.J. Banks women’s specialty stores.
THREADGILL JOINS TROPICAL: Ronald Threadgill has joined Tropical Sportswear International as senior vice president of global logistics, with responsibility for planning, purchasing and sourcing. He takes over many of the duties previously handled by Frank Maccarrone, who left Tropical as executive vice president and chief operating officer last month. Threadgill comes to Tropical from Levi Strauss & Co., where his last post was director of sourcing for the launch of Levi Strauss Signature and director of manufacturing operations for Levi’s operations in the Western Hemisphere.
WELLMAN’S POLY PRICING: Wellman Inc. plans to raise by 6 cents the price of a pound of its polyester staple fiber products — used in apparel, home furnishings and other goods — by Jan. 2. The rise will come in two waves, with a 3 cent price bump applied to Nov. 28 shipments and another 3 cent upswing for the petroleum-based fiber kicking in for the new year. “Polyester raw material costs continue to rise on a monthly basis, setting new record highs,” Joe Tucker, vice president of the fibers and recycled products group, said in a statement. “The industry has also experienced sharp increases in energy costs. These two increases are necessary to offset these raw material and energy cost increases.”GADZOOKS GETS LOAN: Bankrupt teen-girl retailer Gadzooks has secured a $5 million Tranche B term loan from Gryphon Master Fund LP, following approval from a Texas U.S. bankruptcy court. The loan will provide “seasonal borrowing capacity” for the company’s bid to dig out from bankruptcy by the first half of 2005, the retailer said in a statement. The company also said plans for reorganization had been approved by its committee of unsecured creditors, the committee of equity holders and Gryphon. According to the company, the plan for reorganization will be filed with the court by Saturday.
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
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye