TIME CHANGE: The date is finally set. Nicolas Hayek, the colorful Swiss entrepreneur who founded Swatch Group, has revealed that he will entrust the 18-brand business to his son Nicolas Hayek Jr. on Jan. 1. The senior Hayek, 74, largely credited for...
TIME CHANGE: The date is finally set. Nicolas Hayek, the colorful Swiss entrepreneur who founded Swatch Group, has revealed that he will entrust the 18-brand business to his son Nicolas Hayek Jr. on Jan. 1. The senior Hayek, 74, largely credited for saving the troubled Swiss watch industry in the early Eighties, has made no secret of his intention to slowly turn over the business to his son. But he had never provided a firm date. In an interview published Wednesday in Swiss daily Finanz und Wirtschaft, he did just that. He added that he would continue in an "active" role as chairman of the board of directors and president of the Breguet luxury watch brand. Hayek Jr., 48, joined Swatch Group some seven years ago after flirting with a career in film.FAST FUND: Acquisition targets take notice: There’s a new fund in town. Ferrari chief executive Luca Cordero di Montezemolo and a group of investors including Tod’s ceo Diego Della Valle are launching "Charme," a fund targeting various consumer-related industries in Europe including luxury goods and specialty retail. The fund has a starting capital of $110 million but that figure is expected to swell to $150 million in the short term. Other investors include Deutsche Bank, Unicredito Italiano and Banca Monte dei Paschi di Siena.ELASTERELL PASSES FTC TEST: A DuPont stretch fiber has been granted generic status by the Federal Trade Commission, a key step in making the fiber a household name, like nylon or polyester. The FTC dubbed the fiber elasterell and the name can now be carried on garment content labels. In granting the generic status, the agency determined that its composition and its low-to-moderate stretch are unique. DuPont has been using the fiber under a temporary name, T-400, and will it continue to be marketed under its Lycra brand.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim