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.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast