REJECTED, AGAIN: Taubman Centers Inc. said its board unanimously rejected the revised $20 per share cash offer from Simon Property Group in conjunction with a subsidiary of Westfield America Trust, calling Simon’s third offer "inadequate,...
REJECTED, AGAIN: Taubman Centers Inc. said its board unanimously rejected the revised $20 per share cash offer from Simon Property Group in conjunction with a subsidiary of Westfield America Trust, calling Simon’s third offer "inadequate, opportunistic and clearly not in the best interests of Taubman Centers shareholders." Robert S. Taubman, chairman, president and chief executive, said he believes this is not the right time to sell, noting the company has a strong track record and has achieved the sector’s highest funds from operations per share growth rate for the first nine months of 2002. Additionally, he noted, a number of its properties are at early stages in their development cycle and are expected to generate increasing returns over the next few years.
WATCHING BENETTON: Benetton and watchmaker Sector have struck a deal to roll out a new line of United Colors of Benetton timepieces. The line is expected to generate sales of about $191.1 million over the five years of the contract, while advertising expenses for that period should be at least $15.9 million. The line, which bows in the second half of the year, will be available in select watch stores and Benetton sales points. Sector, controlled by Bulgari-led fund Opera, wants to expand its brand portfolio. It recently signed a pact to produce Valentino’s watches.
LANG’S P.R. PLAN: Helmut Lang named Tanja Ruhnke press director for the U.S. and Japan. Ruhnke, formerly a senior publicist at KCD, will join Helmut Lang in-house Feb. 3 and will report to the designer and to Ed Filipowski, president of KCD, who will continue to handle global press strategy. Jenny Kim has also been promoted at Helmut Lang to associate press director. Press and advertising operations had most recently been handled by Kim Stringer, a vice president, who left the company in November.
@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
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)