READY, SET, BURBERRY: Burberry begins trading on the London Stock Exchange today under the ticker symbol BRBY.L after fixing its price at $3.45 a share on Thursday. The share price, as expected, is at the bottom end of the range that Burberry...
READY, SET, BURBERRY: Burberry begins trading on the London Stock Exchange today under the ticker symbol BRBY.L after fixing its price at $3.45 a share on Thursday. The share price, as expected, is at the bottom end of the range that Burberry announced last month due to unfavorable market conditions and gives the firm an initial market capitalization of $1.73 million. "We are pleased with the response to the partial flotation of Burberry in such challenging market conditions," said Rose Marie Bravo, chief executive of Burberry. "We look forward to creating further value for both our new and existing shareholders." Parent GUS will float 22.5 percent of Burberry’s share capital and retain a 77.5 percent stake in the company.CONGRESSIONAL REPORT:The House Commerce Committee and its oversight and investigations subcommittee have asked bankrupt Kmart to provide records showing how its board oversaw company management as far back as the early Nineties. Kmart has to respond to the request by July 17. Kmart, Tyco International, Rite Aid, Enron, WorldCom and Sunbeat are among 13 companies being scrutinized by the lawmakers. As reported, Kmart is already cooperating in ongoing investigations by the Securities and Exchange Commission and the FBI. In a separate matter, the Securities and Exchange Commission said it is requesting an extension of time in which to file a claim against Kmart’s estate. The original deadline was July 31.FERRE NAMES SEROY: Sandra Seroy has been appointed vice president of sales at Gianfranco Ferré USA Inc. This new role was created to bolster Ferré in the American market, which is becoming increasingly important for the Milan-based fashion house. Before joining Ferré, Seroy headed her own consulting firm, which gave marketing and business support to European designers making inroads in America. Upon taking the Ferré post, Seroy closed her company.REEBOK’S BID TO BOOST SHARE: Reebok International is teaming with e-commerce services provider GSI Commerce in a play to launch an e-tail Web site by Sept. 30. The new online store, at reebok.com, will feature a broad selection of the athletic marketer’s top-tier product, including NFL, NBA, Classic and Rbk merchandise. The Reebok.com venture reflects the Canton, Mass.-based company’s goal of gaining market share, in this case by offering its leading items and marketing initiatives in one place.
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)