CHANEL’S FIVE: Seeking to preserve and develop France’s couture know-how, Chanel said it acquired the famous embroidery house Lesage and is in negotiations to take control of haute shoemaker Massaro. A Chanel spokeswoman said Lesage, founded in 1858, would continue to do work for other couture houses in Paris. The new acquisitions bring to five the number of specialty ateliers owned by Chanel subsidiary Paraffection. The others are hatmaker A. Michel, feather and flower house Lemarie and buttonmaker Desrues.
This story first appeared in the July 2, 2002 issue of WWD. Subscribe Today.
WARNACO’S EXTENSION: The Warnaco Group Inc. submitted a notification of late filing with the Securities and Exchange Commission Monday stating that the bankrupt company will be late in filing its Form 11-K retirement plan update. According to the SEC document, Warnaco cannot file the report on time “due to administrative difficulties in obtaining information from the plan trustee necessary for the registrant’s auditors to complete their audit of the benefit plan that is the subject of the Form 11-K.” SEC regulations dictate that the company must file the form within 15 calendar days from yesterday’s due date. A Warnaco spokesperson said the company will make the filing within the regulation time frame and “as soon as practicable.”
SPIEGEL’S VIRTUAL SPARK: Spiegel.com has found its customers are twice as likely to make a purchase on its site after browsing one of 200 items that could be viewed there via Rich FX’s zoom tool, including intimate apparel, embroidered jeans and tops. The technology provides a close-up look at a product, with a 3D feel, regardless of ‘Net connection speed. People who viewed apparel and home goods using the tool spent 30 percent more per visit to Spiegel.com, on average, than those who didn’t, prompting the e-tailer to extend the application to 1,800 of its 13,000 items by July 31 — including 20 percent of the apparel assortment.
NEVER-SLEEPING CITI: Citigroup Inc. and its venture capital affiliate have acquired a 1.56 million share, or 6.2 percent, stake in St. Louis-based Kellwood Co., according to a Form 13-G filed with the Securities and Exchange Commission. The SEC document said the securities were purchased for investment purposes only and with no intent of resulting in a change in the apparel manufacturer’s control.”