BOSS CHANGES: Hugo Boss is discontinuing its previous top-of-the-line men’s wear collection Baldessarini after delivery of the spring 2007 offering. The Metzingen, Germany-based fashion house said fragrances under the Baldessarini name marketed by Procter & Gamble would not be affected. In 2005, the Baldessarini brand had sales of 17 million euros, or $20.5 million. In the future, Boss Selection will function as Boss’ premium men’s wear line. In its first year, Boss Selection posted sales of 20 million euros, or $24.1 million. The company said it aims to double this figure to 40 million euros, or $48.3 million, within three years. Boss has not yet released sales figures for 2005, but in the first nine months, the group achieved sales of 439 million euros, or $529.9 million.
WAL-MART COMMITS TO DIVERSITY: The compensation committee of the board for Wal-Mart Stores Inc. said in a filing Wednesday with the Securities and Exchange Commission that it established an “objective diversity initiative” as a performance measure in its management incentive plan for fiscal 2007. “The committee set diversity goals to motivate officers to achieve the company’s diversity initiatives while adhering to the company’s commitment to select the most qualified individual for each position,” the retailer said in the filing, adding that the incentive payment “can be reduced by up to 15 percent for not achieving the company’s diversity initiatives for fiscal 2007.”
PRET EXPANDING: The Paris Prêt à Porter trade event organizers continue to expand abroad, with plans to stage two additional shows in Manhattan this September. Hervé Huchet, the firm’s fashion director, said the Prêt would stage a second Train show as well as an accessories forum to be called The Box. “The second Train show will have a more commercial focus,” said Huchet. “We hope to have 100 exhibitors for the first edition, and another 50 for the first Box show.” The Paris Prêt launched its first Train event in September 2004 in the Terminal Stores in Manhattan. Venues for the new shows have yet to be determined. Meanwhile, Huchet said the Paris Prêt also would launch The Box in France, starting with its October edition, which is sure to mean competition for the Première Classe accessories fair that convenes concurrent to the runway shows.