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.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)