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.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion