BERGDORF’S ITALIAN WINDOWS: Bergdorf Goodman and the Italian Trade Commission have collaborated on the retailer’s latest windows. In a tribute to Italy’s culture and design, beginning last Friday, the women’s and men’s windows on Fifth Avenue feature such Italian vendors as Giorgio Armani, Roberto Cavalli, Moschino, Pucci, Marni, Alberta Ferretti and Valentino set against backdrops of the country’s maps, vintage movie posters and pieces of art. The windows will be in until March 20.
GOIN’ TO THE GINZA: Barneys New York will make its first move into the Ginza. The retailer’s Japanese venture will open a five-story store in the heart of the district in October 2004. Barneys’ third Tokyo unit will have 29,000 square feet of selling space, with two floors underground, and will be bigger than its Shinjuku unit. A company statement said Barneys Japan selected Ginza because “of its mixture of classic and modern image as well as its forward-looking sense of the market.” The new store, the design of which will be based on Barneys’ flagship on Madison Avenue, is expected to generate sales of $42.4 million dollars in its first year. Barneys Japan opened its first store in Shinjuku in 1990 and the second store in Yokohama in 1993. The company, which is a wholly owned subsidiary of Isetan Department Store, projects sales of $92.4 million for the fiscal year ending March 31. In the first half ended August 2002, the Shinjuku unit generated $27.7 million, up 2.4 percent from a year ago, while its Yokohama unit generated sales of $14.7 million, a decline of 1.9 percent from a year earlier.
SHIPS ALLOY: A shareholder lawsuit seeking class-action status was filed against Alloy Inc. and three of its executives in Manhattan federal court last week. Matthew Diamond, chief executive officer; James Johnson Jr., president and chief operating officer, and Samuel Gradess, chief financial officer, were named in the suit. The lawsuit alleges that the company violated federal securities laws by issuing misleading statements regarding the merchandising and advertising segments of its business. A company spokeswoman said that the “lawsuit is frivolous and that the company will defend itself vigorously.” Milberg Weiss is one of the three law firms representing the shareholders.