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.
“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)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
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