BABES IN BUFFETTLAND: Warren Buffett's Berkshire Hathaway Inc. Tuesday agreed to buy children's clothing maker Garan Inc. in a cash deal valued at $270.6 million. Omaha-based Berkshire said it will pay Garan shareholders $60 a share, a 6.8 percent...
BABES IN BUFFETTLAND: Warren Buffett's Berkshire Hathaway Inc. Tuesday agreed to buy children's clothing maker Garan Inc. in a cash deal valued at $270.6 million. Omaha-based Berkshire said it will pay Garan shareholders $60 a share, a 6.8 percent premium. Garan's management team will remain in place, Berkshire said. Before the agreement was announced, Garan shares closed lower by 35 cents, or 0.6 percent, at $56.20 in trading on the American Stock Exchange. In the fiscal year ended Sept. 30, sales rose 8.9 percent to $257.2 million while net income rose 32.9 percent to $22.6 million, or $4.60 a diluted share. Buffett's company also owns Fruit of the Loom and has an interest in numerous apparel and retail firms.DOW JONES MOVES: Peter Kann, chairman and chief executive officer of Dow Jones & Co., will give up his role as publisher of The Wall Street Journal, as well as his chief operating officer title. Replacing him as operating chief will be Richard Zannino, an executive vice president of the company and formerly the firm's chief financial officer. Karen Elliott House, formerly president of the company's international group and a Pulitizer Prize winning reporter, will be the Journal's new publisher.WEB TITLE FOLDS:Yahoo! Internet Life, which was launched in 1995 and covered the content, resources and lifestyle of the Web, will suspend publication with the August 2002 issue. Published by Ziff-Davis Media, the title suffered from both the decline of the technology market and the burst of the Internet bubble. According to Media Industry Newsletter, ad pages plunged 51.9 percent through July, and the company believed revenue growth showed no signs of coming back. The magazine, which had a rate base of 1.1 million, experienced a 51.9 percent decline in newsstand sales in the second half of 2001, while paid circulation grew 9.9 percent, according to Audit Bureau of Circulation. Some 35 staffers, including editor in chief Barry Colson and publisher Diane Silberstein, have lost their jobs.In other publishing news, Ann Omvig Maine, editor in chief of Meredith Corp.'s Renovation Style, has been named interim editor in chief of sister publication, Traditional Home, while Meredith conducts a search for a permanent replacement for Mark Mayfield, who, as reported, resigned to become editor in chief of House Beautiful, succeeding Marian McEvoy.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)