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.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“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)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)