MILAN--The July 15 deadline for Plaid Clothing Group PLC to sign a final purchase contract to acquire GFT SpA has come and gone, but sources say the deal continues to move forward and the pact should be signed by the end of the month. Further, Giorgio Armani reportedly has confirmed his contract with GFT, which produces men's and women's diffusion lines under the designer's labels, for the next four seasons, through spring-summer 1997. The Armani commitment has been seen as a crucial factor in the Plaid-GFT deal. Officials at GFT here and at Plaid in New York could not be reached for comment. Armani has repeatedly declined to discuss the status of his GFT contract. Plaid, sources said, reportedly has gotten an informal nod from GFT's leading creditor banks to extend the deadline to July 29, although Plaid's exclusive status as sole bidder for GFT technically has expired. To date, no alternative bidders for GFT have come forth. A spokesman for Mediobanca, the merchant bank orchestrating GFT's financial restructuring, declined comment. As reported, GFT's creditor banks, which essentially hold GFT, have agreed to sell the company to Plaid for $248 million (390 billion lire) at current exchange rates. --Fairchild News Service
@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)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“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