HARRODS EXIT: William Najdecki, Harrods’ group finance director, has become the latest executive to jump ship over the past year. The company said the resignation was by "mutual consent" and that Najdecki, who had been with Harrods since 1998,...
HARRODS EXIT: William Najdecki, Harrods’ group finance director, has become the latest executive to jump ship over the past year. The company said the resignation was by "mutual consent" and that Najdecki, who had been with Harrods since 1998, would return to the U.S. No successor has been named. Najdecki joins about 10 executives who have left the firm over the past 18 months, including John Whitacre, who left Harrods as managing director last December, and Adelle Kelley, who left as head of women’s apparel in February. A Harrods spokesman said the company has 5,000 employees, and this happens to be "one of those moments" when turnover is prevalent. Meanwhile, Mohammed Al-Fayed, Harrods’ chairman and owner, recently said that Harrods would post flat sales and operating profits for the fiscal year that ended in January 2002. Operating profits will be about $45 million, and sales will be $912 million. Fayed, however, said he expected a rebound in sales and profits this year and that taking Harrods public in the U.S. is still a "possibility."
ONE MORE MONTH: Bankrupt Warnaco Group last week received Manhattan bankruptcy court approval to extend its exclusive right to file a plan of reorganization for another month until Aug. 30. Warnaco was supposed to have filed its plan by July 31. The company has said in recent weeks that it expects to exit bankruptcy proceedings as a stand-alone operation. Separately, the court said that all documents produced in the matter of the $25.1 million severance claim by former Warnaco chief executive Linda Wachner are to be considered confidential and are not to be disclosed publicly.
GUCCI BUYBACK: Gucci Group has authorized the buyback of 3.5 million shares of its stock to be used for employee stock options. The company will buy the shares at market prices over an unspecified period of time. Based on Tuesday’s closing share price of $88 in New York Stock Exchange trading, Gucci would spend $308 million if it were to purchase the full complement of 3.5 million shares. "We believe that a buyback of Gucci shares at current valuation levels represents an excellent investment for the company," chief executive officer Domenico De Sole said in a statement. The repurchased shares, which will be held by the company’s treasury until employees exercise their stock options, will not be subject to Dutch withholding tax. Gucci said it is using available cash for the transaction.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)