CARTIER’S NEW CEO: Compagnie Financiere Richemont AG has named Bernard Fornas as chief executive officer of its Cartier unit, replacing Guy Leymarie who stepped down this week, as reported. Fornas, who joined Richemont nine years ago, was ceo of...
CARTIER’S NEW CEO: Compagnie Financiere Richemont AG has named Bernard Fornas as chief executive officer of its Cartier unit, replacing Guy Leymarie who stepped down this week, as reported. Fornas, who joined Richemont nine years ago, was ceo of Baume & Mercier, which is also controlled by the Zug, Switzerland-based luxury goods conglomerate. Prior to joining Baume & Mercier in 2001, he was marketing director of Cartier. Fornas will be replaced by Michel Nieto, marketing and communications director at Baume & Mercier. In addition to Cartier and Baume & Mercier, Richemont owns Van Cleef & Arpels, Dunhill, Montblanc, Lancel, Jaeger-LeCoultre, Piaget, IWC, Vacheron Constantin, A. Lange & Söhne and Officine Panerai.
GALERIES NUMBERS: French retail group Galeries Lafayette said third-quarter consolidated sales before taxes increased 8.5 percent to $1.26 billion from $1.16 billion a year ago. Most of the gains came from its credit activities and its Europa Quartz, Croisette, Telemarket and Promosta stores. Department store sales for the nine months inched up 0.8 percent to $1.72 billion. Dollar figures are converted from the euro at current exchange rates.
PPR CREDIT UPDATE: Pinault-Printemps-Redoute, the retail giant with a majority stake in Gucci Group, confirmed Wednesday that it is in "exclusive discussions" with Credit Agricole to sell its financial services arm, Finaref, in a transaction that would be valued at more than $2.46 billion. The divestiture would be completed in two stages, with 61 percent to be sold in January 2003 and 29 percent in January 2004. PPR plans to retain a 10 percent stake in the operation. PPR is also in exclusive negotiations to sell Facet, the consumer credit division tied to its Conforama furniture chain, to French bank BNP Paribas for about $843 million. PPR is seeking to divest its credit and financial services activities to reduce its $6 billion debt and soothe investor jitters over its commitment in 2004 to pay $4.8 billion for the 47 percent stake in Gucci it does not already own.
NO DICE: A spokesman for Versace SpA dismissed as "unfounded" rumors in Milan that Santo and Donatella Versace are planning to shuffle shares to "create a more stable and stronger structure" for their company. Chief executive Santo Versace owns 30 percent of the company’s shares, his sister Donatella owns a 20 percent stake, and her 16-year-old daughter, Allegra Beck, owns a 50 percent stake.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)