In Brief: Spitzer Settlements … Myners Mulls Over M&S
SPITZER SETTLEMENTS:New York State Attorney General Eliot Spitzer on Tuesday said his office had reached a settlement with Federated Department Stores and May Department Stores, as well as with two tableware vendors, Lenox Inc. and Waterford...
SPITZER SETTLEMENTS:New York State Attorney General Eliot Spitzer on Tuesday said his office had reached a settlement with Federated Department Stores and May Department Stores, as well as with two tableware vendors, Lenox Inc. and Waterford Wedgwood, in connection with an investigation over allegations that the companies conspired to limit the distribution of certain products to consumers. Federated said in a statement that it settled “in order to avoid the potential of a protracted court action and the unnecessary distraction to its business that could result from such action.” A May spokeswoman said the “suit was settled to both parties’ satisfaction.” Under the terms of the agreement, Federated will pay civil penalties of $900,000 and May will pay $800,000; Lenox and Waterford will pay $700,000 and $500,000, respectively. None of the companies has admitted to any wrongdoing. Spitzer’s office said the companies had attempted to prevent Bed, Bath & Beyond from expanding into the “lucrative tableware market.”
ON THE RUN: Summer break-ins and burglaries in Italy are nothing new as cities empty and locals head to the beach for weeks. But this summer’s first high-profile heist wasn’t a classic case of breaking and entering. On Friday afternoon, a man strode into a crowded Bulgari store in the ritzy Sardinian coastal town of Porto Cervo, asked a salesperson to see a necklace and a ring up close, grabbed the baubles, worth some 2 million euros, or $2.5 million, and dashed out the door, according to Olbia police captain Gaspare Giardelli. Giardelli said police are still investigating, but he’s optimistic after recent arrests for similar crimes. Few details on the suspect are known, other than that he was well dressed and isn’t Italian — in other words, a convincing potential customer. “He didn’t seem particularly suspicious,” Giardelli said. Bulgari officials could not be reached for comment.
MYNERS MULLS OVER M&S: While the search for a permanent chairman continues, Marks & Spencer plc has said that, for now, Paul Myners is for keeps. He has agreed to remain in the role of temporary chairman, possibly staying on until the retailer’s annual general meeting in July 2005. Myners replaced Luc Vandevelde in June and was a driving force in the company’s successful defense against a 10 billion pound, or $16.92 billion, bid by Philip Green. “The board believes Paul has done an extremely good job during a difficult period, and that the company now needs a period of stability in order to focus on the day-to-day running of the business,” said Kevin Lomax, the company’s senior independent director, in a statement Wednesday. Formerly a non-executive director at Marks & Spencer, Myners is also non-executive chairman of the Guardian Media Group and a non-executive director of the Bank of New York.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)