UNITED COLORS OF PROFIT: Benetton said cost-cutting and its decision to sell its money-losing sporting goods business lifted its first-quarter net profit 28.9 percent to $28.8 million from $21.9 million. Sales fell 0.7 percent to $512.2 million from $515.6 million. The company said sales from its casual-clothing business in the first three months of the year, excluding currency impact, rose 3.8 percent to 351 million euros, which at Monday’s historically high exchange rate of $1.16 per euro translated to $405.7 million. Benetton wrote down the value of its sporting goods business last year, forcing it to post a full-year loss. Benetton has sealed deals to sell all of its sports brands, including Rollerblade, Prince and Nordica.
UNITE, BRYLANE INK DEAL: UNITE and Brylane LP said Monday they had reached a three-year contract for employees at the catalog retailer’s Indianapolis distribution center. The agreement calls for a 9 percent wage increase over its term and includes a “strong benefit package” according to a joint statement from the union and the company. This comes a little more than three months after the roughly more than 700 workers at the facility voted in favor of the union. That vote followed a 15-month organizing campaign in which the union targeted Brylane and other fashion companies in which Brylane’s parent, Pinault-Printemps-Redoute, holds an ownership position.
GETTING FIT: French retail giant Pinault-Printemps-Redoute said Monday it would fund a $460 million capital increase for Rexel, its electronics parts subsidiary, to strengthen the group’s profits and market position. Dollar figures are converted from euros at current exchange. The capital increase is viewed as another step in PPR’s plans to shed its business-to-business activities to focus on retail and luxury. However, it set no timetable to sell Rexel. Last week, PPR said it would sell three companies specializing in the distribution of electronic security equipment. It has already shed its Guilbert office supplies division, Pinault Boix & Materiaux wood and construction supplies division and Finaref and Facet consumer credit units. PPR controls 63.28 percent of Italy’s Gucci group and is committed to buying all Gucci shares it doesn’t own next spring.
@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