BATON PASSED AT PiaGET: Robert Filotei is stepping down as president of Piaget’s North America division, and will be replaced by Richemont North America executive Thomas Van Der Kallen. Filotei, who has had a long career in the watch and jewelry...
BATON PASSED AT PiaGET: Robert Filotei is stepping down as president of Piaget’s North America division, and will be replaced by Richemont North America executive Thomas Van Der Kallen. Filotei, who has had a long career in the watch and jewelry industry and has spent the last 13 years at Richemont North America, Piaget’s parent firm, said in a statement: "It was time for a change." He could not be reached for comment on Friday. In addition to Piaget, Filotei held management positions at Officine Panerai and Cartier. Van Der Kallen, who takes over the post on Nov. 1, was president of Richemont’s watch division in North America. That position is being eliminated and the Richemont watch brand executives will now be reporting to Callum Barton, chief executive officer of Richemont North America, a company spokeswoman said.
A FACET OF FINAREF: Pinault-Printemps-Redoute, the diversified retailer that controls Gucci Group, on Friday said it’s in exclusive negotiations to sell a major part of its financial services arm to French bank BNP Paribas for about $843 million. PPR said it plans to sell 90 percent of Facet, the consumer credit division that’s tied to its home furnishings retail unit Conforama and part of its consumer credit group, Finaref. As reported, PPR is seeking to divest Finaref 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. "This deal is part of our intention to ultimately sell the credit and financial services business," said PPR chief executive Serge Weinberg in a statement, reiterating the strategy he outlined earlier last week during a conference call.
IN THE SADDLE: Western Warehouse, a chain of 32 western, wear-to-work and casual apparel stores in four Southwestern states, has named Carrie McDermott president and chief executive officer. McDermott was a zone vice president for Old Navy, managing more than 220 stores representing $1.5 billion in volume. He succeeds Louis J. Krumm, who is retiring. Cooper’s Inc. is the privately held parent of Western Warehouse, which is based in Albuquerque, N.M.
NEW KORET PRESIDENT: Kellwood Co. has named Fred Smeyne as president and chief executive officer of its Koret division. Smeyne will report to Stephen Ruzow, president of Kellwood’s women’s wear division. Smeyne, a seasoned apparel sales and marketing executive, joined Koret in 1970. He most recently was senior vice president of sales and marketing for Koret. Smeyne succeeds Steven Rudin, who held the post of Koret president and ceo since 1992. Rudin left Kellwood Friday to pursue other opportunities. Smeyne will be based in Oakland, Calif.
BANDOLINO ON THE RUN: Jones Apparel Group will extend the Bandolino name into moderate-priced apparel starting next fall. The line will be designed to complement the footwear line, and will be available to department store customers during the November market. "Bandolino’s strong presence in department stores creates a platform of consumer acceptance and desire upon which to leverage an apparel introduction," said Lynne Fish, president of moderate apparel brands at Jones Apparel Group. The collection will target the updated misses’ customer, featuring an assortment of jackets, pants, skirts, sweaters and blouses.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion