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.
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye