In Brief: Burberry Stock Sale…Securing The Ports…Fila Promotes Lieberman…
BURBERRY STOCK SALE:
Burberry’s majority stockholder, GUS plc, sold 50 million shares of the luxury goods firm Wednesday at 360 pence a share, or $6.11, for a total of $305.5 million, calculated at current exchange. With the sale...
Burberry’s majority stockholder, GUS plc, sold 50 million shares of the luxury goods firm Wednesday at 360 pence a share, or $6.11,for a total of $305.5 million, calculated at current exchange. With the sale of 10 percent of its stake, the retail and business services group reduced its holdings in Burberry to 67.5 percent from 77.5 percent. GUS said the sale is intended to increase the liquidity of Burberry’s stock and it will use the proceeds to pay down its own debt. GUS had previously stated its intention to sell part of its Burberry stake. Burberry shares closed at 361 pence, or $6.13, down 21 pence, or $0.36, or 5.5 percent, on the London Stock Exchange.
SECURING THE PORTS:
The U.S. and the European Union have reached a trans-Atlantic cargo security agreement that addresses EU criticism that the U.S. has played favorites in deeming certain EU ports secure from terrorist threats. The agreement, penned Tuesday, will lead to the creation of a secure logistics chain strategy for transporting cargo between the EU and U.S. cargo departing from EU ports that have established antiterrorism protocols get priority clearance upon their arrival in the U.S.
FILA PROMOTES LIEBERMAN:
Danny Lieberman has been promoted to senior vice president of global apparel from vice president of apparel for Fila USA, a subsidiary of Sport Brands International. In his new role, he will supervise and coordinate Fila’s global apparel design, development, production and sourcing. Lieberman, who has been with the company for seven years, will continue to be based at its New York office.
Matthew D. Serra, president and chief executive officer of Foot Locker Inc., has been named chairman of the retailer. Serra succeeds J. Carter Bacot, who has served as the company’s non-executive chairman since March 2001. Bacot will remain a member of the board and be designated the lead director. The board declared a quarterly cash dividend of 6 cents, doubling its previous quarterly amount.
MOORE LANDS AT POLYMER:
Willis C. “Billy” Moore, who last month left his post as executive vice president and cfo of Unifi Inc., has been named cfo of Polymer Group, a Charleston, S.C.-based maker of nonwoven fabrics. Moore’s position has not yet been filled, a Unifi spokeswoman said Wednesday. Moore also gave up his position as chairman of the American Textile Manufacturers Institute. He was succeeded by Jim Chesnutt, president and chief executive officer of National Spinning Co.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews