In Brief: Cast Your Ballots… Aeffe Buyback… Two Sides Settle
Today's presidential primaries could be decisive ones for Barack Obama, Hillary Clinton and John McCain, but the fashion crowd has a little more time to play with to vote for this year's Council of Fashion Designer of America awards.
CAST YOUR BALLOTS: Today's presidential primaries could be decisive ones for Barack Obama, Hillary Clinton and John McCain, but the fashion crowd has a little more time to play with to vote for this year's Council of Fashion Designer of America awards. The deadline for the strictly electronic nominations is Wednesday at 11:59 p.m.
AEFFE BUYBACK: Aeffe SpA shareholders on Monday approved a buyback program, authorizing the Italian fashion group to purchase and use up to 10 percent of its shares. Aeffe, which operates the Alberta Ferretti, Moschino and Pollini brands, and produces collections for Jean Paul Gaultier, said the buyback would run on a rolling basis for a maximum of 18 months and enable Aeffe to implement strategic investments or other extraordinary financial operations. The company is believed to be eyeing an acquisition in the luxury men's wear market. Aeffe added the buyback would also allow it to stabilize its stock price, which, despite recovering some 9 percent over the last month, is still down more than 20 percent this year. Aeffe's stock closed down 0.9 percent Monday to 2.20 euros, or $3.34 at current exchange. The company was listed on the Milan Stock Exchange STAR segment for small companies in July.
TWO SIDES SETTLE: Genesco Inc. and Finish Line Inc. said Monday that they are ending their legal battle over the merger of the two companies. In anticipation of the settlement, the companies requested a one-day delay in the start of a solvency trial that was to begin in New York. According to the proposed settlement terms, Finish Line and its financier, UBS, will pay Genesco an aggregate of $175 million in cash, along with 12 percent of Finish Line's outstanding common stock. In June, Genesco agreed to be acquired by Finish Line for $1.5 billion, but Finish Line pulled out of the deal after Genesco reported disappointing earnings. The settlement still needs to be approved by each firm's board, both of which were set to meet on Monday.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@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)