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.
Assouline is paying homage to the late Azzedine Alaïa with a reprint of "Alaïa Livre de Collection.” The book is comprised of photographs of the designer's summer 1992 runway show with models Christy Turlington Burns, Naomi Campbell and Tyra Banks, pictured here at right. #wwdfashion #alaia #tyrabanks
Fall 2018 accessories take on a painterly hue, with Nebulas Blue among Pantone’s top 10 colors of the season. (📸: @jonghyupstudio ; editor: @twallz21 ; stylist and set designer: @haideefindlaylevin ) #wwdaccessories
@americanapparelusa is relaunching the brand outside of the U.S. today, opening its online store to more than 200 countries. The company is also contemplating a return to brick-and-mortar, though details have not been confirmed. In tandem with the expanded distribution is a recasting of a social media ad campagn, called “Back to Basics,” pictured here, with a focus on diversity and a cast of models above the age of 21. Read more on WWD.com #wwdnews #wwdfashion
Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge
Jewelry label @alisonlou has made a name for itself with fine jewelry that speaks to the Millennial market. Now @twallz21 reports that the label is bringing those playful ideas to a new affordable line of lucite hoops with the launch of Loucite by Alison Lou. Here’s a look from the line modeled by @emrata. #wwdaccessories
@sarahjessicaparker and @gilt are teaming up on a bridal ready-to-wear line. Tomorrow, Parker will launch SJP by Sarah Jessica Parker Bridal — and as part of the launch, Gilt will offer 15 exclusive styles from the SJP by Sarah Jessica Parker footwear collection that were designed to complement the new line. Made out of 10 styles, the line is designed for a variety of occasions, from bridal showers to receptions. Get more details on WWD.com #wwdfashion