NEW TITLES AT JONES: Jones Apparel Group has promoted three of its key executives. Anita Britt, who had been senior vice president of finance and investor relations, has been named executive vice president of finance. Efthimios P. Sotos, who was...
NEW TITLES AT JONES: Jones Apparel Group has promoted three of its key executives. Anita Britt, who had been senior vice president of finance and investor relations, has been named executive vice president of finance. Efthimios P. Sotos, who was corporate vice president and treasurer, has been appointed to the post of senior vice president and treasurer. Joseph Donnalley, who had been vice president of corporate taxes and risk management, was named senior vice president corporate taxation and risk management.VALENTINO'S TEAM: Valentino on Friday finally became a property of Marzotto, which acquired the house from Holding de Partecipazioni Industriali. Marzotto also announced a new management structure at Valentino: Antonio Favrin, Marzotto's vice president and chief executive officer, was nominated chairman of Valentino; Michele Norsa, general manager of the Marzotto apparel division, will be Valentino's chief executive; Fabio Giombini, already ceo of Valentino under HdP, was nominated general manager of Valentino. Ironically, Giombini was Marzotto's apparel director prior to joining Valentino. As reported, Marzotto purchased Valentino from HdP in March for $210 million, a sum that includes Valentino's net debt of $179.2 million.CITA NOD FOR COMBED CASHMERE: The Committee for the Implementation of Textile Agreements has approved a "short supply" request for use of non-U.S. yarn of combed cashmere, cashmere blends and camel hair under the Caribbean Basin Partnership Act. The bill largely requires U.S. textiles to be used in order for garments to receive duty breaks, but allows garments made of non-U.S. materials to qualify for duty-free status if they are not commercially available in the U.S.THE PENNEY LINE: J.C. Penney Co. Inc. reported Friday its wholly owned subsidiary J.C. Penney Corp. Inc. has completed a new three-year $1.5 billion bank line of credit to be used for general corporate purposes, effective immediately. The company said its collateral for the credit facility is limited to domestic department store and catalog inventories. The deal was arranged by J.P. Morgan and Credit Suisse First Boston with Morgan as the sole bookrunner.J. CREW'S LOSS WIDENS: Hurt by a double-digit decline in same-store sales and a charge related to the elimination of 20 percent of its work force during the quarter, the J. Crew Group reported a $12.1 million net loss for the quarter ended May 4, compared with a loss of $9.3 million a year earlier. Revenues declined to $167.1 million from $167.8 million a year ago.HEARST BUYS VERANDA: Hearst Magazines said Friday it has purchased Veranda, an interior design magazine, from Veranda Publications Inc. of Atlanta. The purchase price was undisclosed. The magazine, which is published six times a year, has a paid circulation of 393,270.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)