NOT NOW: A spokesman for Seibu Department Stores termed as "speculation by the press" reports that the 21-store chain is planning to close four stores beginning in August and reduce its full-time employees by 250 to 3,150. The spokesman noted,...
NOT NOW: A spokesman for Seibu Department Stores termed as "speculation by the press" reports that the 21-store chain is planning to close four stores beginning in August and reduce its full-time employees by 250 to 3,150. The spokesman noted, however, that the company earlier decided on a new management plan to reduce its full-time employees by 1,000, to 2,400 from 3,400, by 2007, while increasing the number of part-timers by 700, to 3,600 from 2,900 at present.
According to reports in Tokyo, Seibu plans to close stores in Kawasaki, west of Tokyo, Hakodate on the northern island of Hokkaido, Sendai in the northeast of Tokyo, and Toyohashi near Nagoya. Seibu is in the process of restructuring after its creditor banks agreed to forsake approximately $1.9 billion in loans.
STILL BUILDING: Despite SARS, Marubeni Corp., a leading trading company, has established a subsidiary in Shanghai to market textile materials and textile products in China, while another major trading firm, Itochu Corp., has launched a joint-venture company in Shanghai to produce fashion apparel including handmade and handprinted products.
Marubeni said its Shanghai-based firm, Marubeni Textile (Shanghai) Co., will handle exportation to and importation from Japan and third markets of textile materials and textiles, as well as selling to the domestic Chinese market with annual sales forecast to reach $300 million in three years. The subsidiary is positioned as one of the most important global textile trading centers for Marubeni, the company said.
Itochu said its joint venture, Shanghai Sanzenin Trading Co., capitalized initially at $500,000, is owned 40 percent by the Shanghai-based subsidiary of Itochu Textile (Shanghai) Co. (ITS); 30 percent by Li Wenwen, a former Chinese employee of ITS, and 30 percent by local Chinese interests. The new company will not only export fashion apparel manufactured in China to Japan but also will sell to the Chinese market, export to third markets and make investments in Chinese business projects, Itochu said. — T.F.
GOING IN: Apparel imports to Japan in fiscal 2002 — April 2002 to March 2003 — declined 5.3 percent from the previous year for the first time in four years, reflecting the sluggish market here, according to figures released by the Ministry of Finance. Imports of apparel and related accessories in fiscal 2002 totaled $17.8 billion, at the average exchange rate of 122.40 yen to the dollar prevailing in fiscal 2002. China, the largest supplier, accounted for $14 billion, down 3.7 percent. This brought up China’s market share by 1.3 percentage points to 78.6 percent. Imports from the U.S. fell 24.9 percent to $248 million, while shipments from the European Union edged up 0.9 percent to $1.51 billion. — T.F.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty