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.
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)