ANOTHER NOD TO UCC: UCC Capital Corp., which specializes in middle-market lending secured by intellectual property, on Tuesday received the Licensing Executives Society's 2005 Deal of Distinction for its December 2004 financing of BCBG Max Azria Group. UCC completed a $53 million securitization of investment grade asset-backed bonds, along with a $100 million revolving line of credit. Earlier this year, UCC was the recipient of Institutional Investor's Securitization News' 2004 Deal of the Year Award, also for its BCBG financing.
COTTON CHALLENGE: The U.S. on Tuesday challenged a request by Brazil for $1 billion in retaliatory trade sanctions over the failure to respond in time to a World Trade Organization ruling that U.S. cotton subsidies broke global rules. A WTO arbitrator has 60 days to determine whether the level requested is justified. Steven Fabry, principal U.S. WTO legal adviser, told a session of the Dispute Settlement Body that "the countermeasures proposed are not commensurate with the degree and nature of the adverse effects determined." Fabry said the U.S. intends to implement the panel's recommendations and has taken appropriate steps to do so. Brazil's WTO ambassador Clodoaldo Hugueney said his country "is still hopeful that the actual application of retaliatory measures might not be necessary," if the U.S. eliminates the subsidy programs.
QUIKSILVER CUTS FORECAST: Quiksilver Inc. said late Tuesday that 2006 earnings would fall below estimates. The company attributed the change to steps it was taking to more rapidly integrate Rossignol, the strengthening dollar and higher than anticipated interest expenses. The surf and skate company anticipates earning 87 to 88 cents for the 2006 fiscal year, below analysts' average expectations of 98 cents. Quiksilver also reaffirmed its forecast for the fourth quarter and full year ending Oct. 31, 2005. The information was disclosed after the stock markets closed, but the company's shares fell in after-hours trading.
@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)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia