FACCHINI'S BACK?: Could Gianluigi Facchini be preparing to buy back Fin.part on the cheap? Although a Fin.part spokesman denied speculation that the chairman was readying a leveraged buyout, shares catapulted 8.5 percent Thursday to 53 cents, or...
FACCHINI'S BACK?: Could Gianluigi Facchini be preparing to buy back Fin.part on the cheap? Although aFin.part spokesman denied speculation that the chairman was readying a leveraged buyout, shares catapulted 8.5 percent Thursday to 53 cents, or 0.561 euro, in Milan. That pulled it back from its 52-week low of 49 cents, hit on Wednesday. Its 52-week high is $1.09, reached on Jan. 18. Dollar figures have been converted from the euro at current exchange. One stock trader said it could make sense for Facchini to take advantage of a low stock price to buy back the company cheaply and split it up. Fin.part's focus is already changing. As reported, it is looking to sell off its real estate and sportswear assets to concentrate on its Cerruti brand, which was acquired last year. "We are a bit penalized by price," said one spokesman. "Selling it all now would mean doing it at a lower price." Among its other brands, Fin.part makes Marina Yachting, Henry Cottons and Moncler.CLAIBORNE TO BUY MEXX CANADA: Following Liz Claiborne Inc.'s acquisition of Netherlands-based Mexx Group BV in May 2001, the company said Thursday that it plans to purchase 100 percent of the stock of Mexx Canada Inc., a privately held company based in Montreal. Mexx Canada, which had sales of $54.2 million, based on the current exchange rate with the Canadian dollar, distributes its Mexx brand in all Canadian provinces, generating about 70 percent of its sales through retail business and the remaining 30 percent through wholesale. The deal is expected to close in the third quarter.BIGGER RICHARDS WOMEN: It's not even two years old, but already the new Richards, at 359 Greenwich Avenue in Greenwich, Conn., is expanding its women's business by putting up in-store shops for Giorgio Armani Black Label and Yves Saint Laurent. Construction on the shops has begun and should be complete by Aug. 1, said chief executive Jack Mitchell.BARNEYS GRABS MALO: Malo, the 30-year-old Italian luxury cashmere house, is raising its profile and distribution and has begun with an exclusive at Barneys New York. Barneys' Madison Avenue flagship will open a Malo men's shop on July 1, and aside from the Malo stores on Madison and in SoHo, becomes the sole distributor of the brand in New York. Barneys in Beverly Hills and Chicago will also open Malo men's shops on July 1. On July 18, Barneys in Beverly Hills and Malo will host a cocktail party to celebrate Robert Evans and his new movie, "The Kid Stays in the Picture." In the U.S. outside the Big Apple, Malosells its men's and women's collections in such stores as Saks Fifth Avenue, Neiman Marcus and Louis, Boston and through its six freestanding shops.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast