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.
@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
@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)