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.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)