SCHUSTER EXITS ICING: Dan Schuster has left as merchandise manager of The Icing to start his own business, an accessories buying office in New York.

Schuster's firm, Regent Accessories, opened June 27 at 134 West 32nd St., between Sixth and Seventh Avenues. For now, he said, he will be a one-person staff.

"With all the staff cutbacks happening at the retail level, I thought it would be a great time to start up this kind of a service," he noted. At The Icing's headquarters in Enfield, Conn., Schuster's duties have been absorbed by Michael Castellano, the company's vice president and general merchandise manager.

ARNOLD JOINS THE HUT: Sheila Arnold has joined Sunglass Hut International Inc. as senior vice president of merchandising and marketing, a new post.

Arnold, who until last November was president of merchandising at Macy's West, will manage all aspects of Sunglass Hut's marketing campaigns, global merchandising and sales promotion and visual presentation.

She will report directly to Jack Chadsey, president and chief executive officer of the Miami-based chain.

Arnold spent 17 years at Macy's. William Cappiello succeeded her as president of merchandising.

TOUTING TOTES: Acquisition by Bain Capital of a majority interest in Totes Inc. -- a deal announced last week -- will mean a substantial cash infusion for the Cincinnati-based umbrella and rain gear company.

Both Bain, a Boston-based venture capital firm, and Totes, a private company with estimated sales of $175 million, declined to reveal the size of Bain's holding or the amount of investment. However, David F. White, managing director at Bain, said the investment was "pretty substantial."

"We put a significant amount of equity in the company to help fund the growth and provide capital for new product development at the company," White said.

A spokesman for Totes, which has been restructuring the last two years, said the firm had been looking to boost its credit line in the face of new competition. The capital infusion will enable Totes to be "much more aggressive in the marketplace," the spokesman said.

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