REEDS AGREES TO ACQUIRE ALL OF MELART'S COMMON SHARES
NEW YORK--Reeds Jewelers Inc. said it has signed a definitive agreement to purchase all the common stock of The Melart Jewelers Inc., a private chain of 19 jewelry stores, for an undisclosed amount of cash. For the year ended June 30, Melart, based in Silver Spring, Md., had sales of $17.5 million. In the year ended Feb. 28, publicly owned Reeds, based in Wilmington, N.C., earned $4.1 million, or $1.08 a share, on sales of $77.5 million. Melart operates most of its stores in regional malls in the Washington/Baltimore metroplex, the fourth-largest U.S. retail market, encompassing Maryland, northern Virginia and the District of Columbia. The company, founded in 1939, operates 18 retail stores under the Melart name and one outlet under the Jewelry Vault name in Potomac Mills, Md., an outlet center near Washington. Alan M. Zimmer, president and chief executive officer of Reeds, said the acquisition will allow the firm to move into contiguous markets in Baltimore and Washington. He added, "The purchase of Melart will afford us cost savings going forward as we will be able to leverage our operating, distribution and sourcing efforts." Reeds operates 80 stores in regional malls in 11 states, principally in the Southeast. --Fairchild News Service
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast