BEST SALE: Fin.part SpA announced Thursday the sale of Best Co. to the label's distributor, Cisalfa, for $2.7 million (converted from the euro at current exchange rates). In a statement, Fin.part said the sale was in line with its strategy to shed...
BEST SALE: Fin.part SpA announced Thursday the sale of Best Co. to the label's distributor, Cisalfa, for $2.7 million (converted from the euro at current exchange rates). In a statement, Fin.part said the sale was in line with its strategy to shed real estate and non-strategic investments, like its sportswear division, which, in addition to Best Co., includes the labels Marina Yachting, Henry Cottons and Moncler. As reported, Fin.part is focused on building its Cerruti brand, and the sale of its sportswear block will help offset the company's $402.2 million in net debt. Fin.part expects to eventually garner about $187.5 million from the sale of its sportswear unit. The firm also owns Frette SpA and Maska.FAB-U-LESS: Fab Industries' stockholders will receive $10 a share in cash on June 24 as the manufacturer of warp and circular knit fabrics reduces its cash position to $50 million from $90 million and commences a corporate liquidation and sale of remaining assets. "It will be a series of distributions," said Steven Myers, president and chief operating officer. "We don't need the size of cash we're sitting with to run a smaller business. The best thing to do now is deal from a position of financial strength." Unlike most U.S. textile mills, Fab was in a healthy state of business, though Myers said he wasn't sure how long the company could sustain growth due to the economic climate and current state of the U.S. textile industry. Fab reported revenue of $14.3 million for its first quarter ended March 2, down from year-ago revenue of $20 million.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty