Loehmann’s has been resurrected from the retail graveyard.
The Loehmann’s nameplate will go live again online, with a new Web site slated to be up and running in early May, according to Charles Koppelman, founder of brand development and advisory firm CAK Entertainment Inc.
The online store will operate under a new Web address that will be unveiled next month, but will remain focused on “highly discounted brands,” Koppelman said.
After 93 years as a fashion presence in the off-price channel focused on designer apparel and accessories, the retail chain filed a voluntary Chapter 11 petition for bankruptcy court protection in December. After a fast-tracked bankruptcy tour — its third time in bankruptcy proceedings, with the first in 1999 and the second in 2010 — the retailer liquidated in February.
Andrew L. Sole, managing member of Esopus Creek Advisors LLC, the investment adviser to the Esopus fund, said, “This is a longer-term investment for us. We’re looking to build the Loehmann’s brand over time. Esopus has a history of being a long-term investor in many of the purchases that we have made.”
Koppelman was hired by Esopus to work on the branding and revitalization of the Loehmann’s nameplate.
While many of the details of the new site are still under wraps, Koppelman, a marketing and branding expert, plans to take advantage of both social and digital media. He also has experience in the IP realm, having formed CAK Universal Credit Corp. in 1998 using IP assets as a form of financing known as asset-backed securitizations. CAK’s work on the securitization of the Bill Blass trademarks was considered the fashion industry’s first investment-grade asset-backed issue.
According to Koppelman, the site will feature the same brands as before, but will also have a component that skews towards the Millennial consumer, taking advantage of the emerging forms of media as the primary outreach for that market.
“Research tells us the younger customer shops online. They want to have a dialogue with brands about what they want to see and what brands they want.…We are going to talk to them, helping with the product and brand selection. They will tell us what they want and help us with our buying,” Koppelman said.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion