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.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews