PPR CREDIT CLINCHER: Pinault-Printemps-Redoute, the retail giant with a majority stake in Gucci Group, has completed the sale of 90 percent of its credit and financial services division, Finaref, to French bank Credit Agricole. Under the agreement,...
PPR CREDIT CLINCHER: Pinault-Printemps-Redoute, the retail giant with a majority stake in Gucci Group, has completed the sale of 90 percent of its credit and financial services division, Finaref, to French bank Credit Agricole. Under the agreement, the sale will be completed in two phases — 61 percent next month and 29 percent in January 2004. PPR has also sold 90 percent of Facet, the consumer credit card division tied to its Conforama furniture chain, to French bank BNP Paribas. Besides the 10 percent stakes it will retain in Finaref and Facet, PPR will keep control over their commercial files and marketing. The underlying value of the businesses sold is more than $3.68 billion (converted from euros at current exchange rates).
OAKLEY’S NEW POST: Oakley Inc. has promoted Cliff Neill to the new position of vice president of U.S. sales. Neill, who has been with Oakley for 17 years, will oversee the company’s domestic sales. Previously, he held such posts as regional sales manager, national account manager and national sales director. Jim Jannard, chief executive officer, said Neill was instrumental in implementing the Oakley Premium Dealer program last year and "has been critical to the strategic deployment of our distribution strategies."
HIGH FLYER: Olivier Lapidus has succeeded Pierre Cardin as the designer of Air China for its women’s uniforms. Lapidus, who is Ted Lapidus’ son, has created outfits for the staff of the Hotel Crillon in Paris and France’s national railway, the SNCF, among other groups. Bejing-based textile company Yimian will produce the Air China uniforms.
SHOE BIZ: Stephane Kelian, the high-end maker of shoes and accessories, has been acquired by Groupe Alain Dumenil. As reported, Kelian had filed for the French equivalent of Chapter 11 proceedings in September. Besides its Stephane Kelian line, the firm — which employs about 550 people — also produces the low-priced Mosquitos shoe brand. Kelian had losses of about $1 million last year on sales of about $46 million.
@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