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.
@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