GARDEN STATE SEARING: New Jersey officials said Monday that Sears, Roebuck & Co. is one of four companies the state plans to sue for massive pension fund losses. At a press conference, Gov. Jim McGreevey and other state officials said New Jersey will...
GARDEN STATE SEARING: New Jersey officials said Monday that Sears, Roebuck & Co. is one of four companies the state plans to sue for massive pension fund losses. At a press conference, Gov. Jim McGreevey and other state officials said New Jersey will bring a securities class-action lawsuit against the retailer and some of its officers and directors alleging that the defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market between Jan. 17 and Oct. 17. Along with Sears, New Jersey plans to bring suits against Tyco International Ltd., Qwest Communications Inc. and Electronic Data Systems for allegedly causing more than $150 million in state pension system losses. The state’s fund lost more than $6 billion last quarter, and more than $20 billion over the past three years.
ALL EYES ON STELLA: Gucci Group and Safilo Group, the Italian eyewear manufacturer, aren’t wasting time when it comes to developing branded sunglasses. After Bottega Veneta, it’s Stella McCartney’s turn. She will launch an initial sunglass collection comprising six styles, which will bow globally next spring. Details on prices and distribution were not available.
NEW VP AT VESTIMENTA: Vestimenta Inc. has promoted Jeffrey Weinberg to vice president, a new post. He was formerly director of men’s sales. A six-year veteran of the company, Weinberg continues to oversee Vestimenta’s men’s division, while his new responsibilities include women’s sales and steering retail planning and expansion. Weinberg also serves as the senior liaison between Vestimenta’s American branch and its parent company, based in Trento, Italy. The company’s women’s sales director, Ellen Zornberg, now reports to Weinberg, and the company is still searching for a president to succeed John Wilson, who left in April.
CHANGES AT ELLEN TRACY: Ellen Tracy has promoted Joni Storgion-Knight to vice president of design for the Linda Allard collection and Donna McKenzie to vice president of design for the company line. Both worked in their respective areas but now have more responsibilities. They continue to be based at Ellen Tracy’s New York office and report to Allard. Additionally, Beth Ann Mayer has joined the firm as vice president of product development. Most recently, she was vice president of merchandising for Elie Tahari. She also reports to Allard.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“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