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.
Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge
Jewelry label @alisonlou has made a name for itself with fine jewelry that speaks to the Millennial market. Now @twallz21 reports that the label is bringing those playful ideas to a new affordable line of lucite hoops with the launch of Loucite by Alison Lou. Here’s a look from the line modeled by @emrata. #wwdaccessories
@sarahjessicaparker and @gilt are teaming up on a bridal ready-to-wear line. Tomorrow, Parker will launch SJP by Sarah Jessica Parker Bridal — and as part of the launch, Gilt will offer 15 exclusive styles from the SJP by Sarah Jessica Parker footwear collection that were designed to complement the new line. Made out of 10 styles, the line is designed for a variety of occasions, from bridal showers to receptions. Get more details on WWD.com #wwdfashion
A grooming moment between @tanfrance and @antoni last night at the The LGBT Community Center Trailblazer Awards honoring Anna Wintour, Ricky Martin and more. See more photos at WWD.com #wwdeye (📷: @lexieblacklock)
“It was a very surreal feeling. It wasn’t like we were in the studio together coming up with it — it’s more like he discovered it and loved it. I didn’t let myself get my hopes up, but then it happened it was very exciting,” said singer-songwriter @nombe on discovering that @pharrell would be using his song, “Cant Catch Me” on his HBO documentary series “Outpost.” The German-born singer — named Noah MacBeth — talked to WWD about feminism, using art as a platform for political expression and personal style. Read more on WWD.com #wwdeye (📷: @jilliansollazzo)
This season, denim is going west – in influence. Brands like @fathersdaughterla (pictured here), @tommyhilfiger Jeans, @levis and more are opting for raw, top-stitching styles. (Styled by @thealexbadia; 📷: @ryanplett)