GREEN BUY: English retail tycoon Philip Green has purchased the struggling U.K. arm of the French retailer Etam for an undisclosed price. Green, owner of retailers such as Topshop, Miss Selfridge and British Home Stores, purchased...
GREEN BUY: English retail tycoon Philip Green has purchased the struggling U.K. arm of the French retailer Etam for an undisclosed price. Green, owner of retailers such as Topshop, Miss Selfridge and British Home Stores, purchased Etam from chairman Pierre Milchior, whose family controlled the brand. Analysts estimate he paid 10 million pounds, or $18.8 million at current exchange, for the brand. In a telephone interview with WWD, Green said he plans to convert some of Etam’s 213 stores into BHS units and sell labels such as Etam’s Tammy children’s wear and Etam Plus brands in BHS stores. He said Etam’s value is in a “mix” of real estate sites and in-house brands. Etam’s U.K. arm was put up for sale by Etam Developpement in January. The company, which has a staff of 3,600 in the U.K., has been losing 25 million pounds, or $47 million, each year. Etam is a French fast-fashion retailer best known for its lingerie.
MARRAS QUITS: Les Copains confirmed an Italian press report that Antonio Marras has prematurely terminated his contract to design Trend Les Copains, which was due to expire with the spring 2006 collection. Mario Bandier, owner and chairman of Bologna-based BVM, the parent company of Les Copains, said Marras’ decision stemmed from the fact that the designer has a full plate between his namesake line, partly owned by BVM, and Kenzo. Starting with the spring collection, he will be succeeded by Antonio Berardi, who already designs the more mainstream Les Copains line.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)