A CATO FAMILY AFFAIR: W.H. Cato Jr. Revocable Trust and Cato Family Investments, a limited partnership managed by Wayland Cato Jr., 79, a founder and chairman of Cato Corp., plans to sell up to 1 million shares of the firm’s Class A common...
A CATO FAMILY AFFAIR: W.H. Cato Jr. Revocable Trust and Cato Family Investments, a limited partnership managed by Wayland Cato Jr., 79, a founder and chairman of Cato Corp., plans to sell up to 1 million shares of the firm’s Class A common stock, or approximately 19 percent of its holdings in the firm, through Banc of America Securities. The sale follows a similar divestiture of 1.2 million shares in December and relates to Cato’s estate planning. Excluding shares represented in the plan, the trust and limited partnership hold about 44 percent of the voting power of the firm’s common stock.
BUSH — WE BUY FROM YOU, ARGENTINA: President George Bush, opting for trade instead of financial aid, last week granted trade benefits to Argentina, which is suffering its worst-ever economic crisis. The White House gave duty-free access to 57 types of imports from Argentina, including jewelry and leather products under the Generalized System of Preferences program, which does not include textiles or apparel. The U.S. said it might give duty-free privileges to additional products, including textiles, if it can settle a long-running dispute over Argentine patent laws on pharmaceuticals. The Office of the U.S. Trade Representative plans to hold a hearing on Oct. 18. to consider granting additional duty-free treatment for 17 products from Argentina, the Philippines and Turkey. A decision on that is expected by Jan. 31, 2003.
KMART EMPOWERMENT: A federal judge, on Thursday, granted Kmart Corp. the power to issue subpoenas in its investigation into whether its previous management’s practices and policies led to the firm’s Jan. 22 Chapter 11 filing, according to published reports. The Troy, Mich.-based firm and the Federal Bureau of Investigation, along with the Securities and Exchange Commission, have been examining the events leading up to the filing, the largest retail bankruptcy in U.S. history.
HDP SAYS IN FILA TALKS WITH VF: The Italian conglomerate Holding di Partecipazioni Industriali, which has been trying to sell the Fila brand for over a year, said it is in now talks with VF Corp. about a deal, though a spokeswoman for the Greensboro, N.C.-based apparel maker declined to comment on HdP’s statement. An HdP spokeswoman said: "We are holding several negotiations and VF is one of the companies that has shown interest." She did not name any other interested parties, though in December the company had said it was in exclusive talks with Continental Partners, an investment group. Continental couldn’t be reached for comment.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty