BURBERRY'S BIG DAY: Great Universal Stores plc, which currently has a 65 percent stake in Burberry, has released the details of the planned de-merger of the luxury fashion brand. GUS said in a statement Thursday it plans to distribute its shares in Burberry to GUS shareholders on Dec. 13, subject to shareholder approval. "Distributing our stake to existing GUS shareholders will enable them to participate directly in the exciting growth opportunities we see at Burberry," said Victor Blank, chairman of GUS. GUS shareholders will receive 305 Burberry shares, and approximately 859 new GUS shares, for every 1,000 GUS shares they already hold. The company said it planned to send out detailed proposals to shareholders regarding the demerger on Saturday. It will then hold an EGM on Dec. 12 to seek approval from GUS shareholders. Burberry plans to seek approval from its own, non-GUS shareholders on the same day. Burberry was partially floated on the London Stock Exchange in 2002, and GUS has said this de-merger is a next logical step for the company.
NEW BOUTIQUE: Valentino USA plans to open a boutique in the spring at 45 Newbury Street in Boston's Back Bay. The 3,000-square-foot store will offer shoes and accessories in addition to men and women's apparel. Rent was said to be in the $200-per-square-foot range for the space, which is in the Peabody Building. Newmark Retail negotiated the lease for Valentino with the owner of the property, The Donald Saunders Family LLC.
Breaking: @cushnieetochs’ co-founders @carlycushnie and @ochsmichelle are parting ways. After a 10-year run, Ochs is leaving the brand. Get the full story on WWD.com – link in bio. #wwdnews #wwdfashion
@maybelline’s Kanako Takase had snow bunnies in mind when creating the beauty look for @philipppleininternational. Playing off of the bedazzled snowboards in the collection, Takase mixed two highlighters together for a luminous sheen. #wwdbeauty #nyfw (📷: @jilliansollazzo)
“There’s a huge gap between the old way of doing things and today. It takes the youth to help evolve that. You have to count on the kids today to help lead you into the future. A lot of these retailers are stuck in the past. Communication is the biggest thing,” said @ronniefieg of @kith on the youth’s role in retail. On Monday night, Jeff Staple moderated a keynote session with Fieg and @syresmith at Assembly - a series of workshops, talks and keynotes addressing topics or issues in the apparel industry. Head to WWD.com to read more advice from Fieg and what Smith thinks of his dad @willsmith’s Instagram account and sustainability (📷: @weston.wells)
@joansmalls closed the @michaelkors fall 2018 show in black sequined pants and a varsity T printed with 19 on the front and 81 on the back. 1981 – the year Kors went into business. #wwdfashion #nfyw (📷: @giovanni_giannoni_photo)
“You think your life is going to be a certain way, and nothing you thought would happen ends up happening. Never in my wildest dreams did I think I’d be designing clothes and working with Mickey Drexler, and building something I’m deeply proud of,” said Jenna Lyons. Nine months after leaving @jcrew, Lyons is exploring the meaning of happiness. Read the interview, where Lyons talks about reinvention and more on WWD.com – link in bio. #wwdfashion (📷: Farrell) #jennalyons #jcrew