DEBENHAMS SETS IPO: Debenhams plc, the 123-store U.K. department store chain, said its was going ahead with an initial public offering that would value the retailer at around 3 billion pounds, or $5.3 billion. The IPO pricing includes...
DEBENHAMS SETS IPO: Debenhams plc, the 123-store U.K. department store chain, said its was going ahead with an initial public offering that would value the retailer at around 3 billion pounds, or $5.3 billion. The IPO pricing includes 1.2 billion pounds, or $2.1 billion, of debt. The float would be one of the biggest on the London exchange this year. The firm said Citigroup and Merrill Lynch were coordinating the IPO. Texas Pacific Group, CVC Capital Partners and Merrill Lynch Global Private Equity "will retain significant shareholdings in Debenhams post-IPO and will commit not to sell any of their remaining holdings for at least 180 days," a company statement said. TPG, CVC, Merrill Lynch GPE and the management team at the retailer bought the firm in 2003 for 1.7 billion pounds, or about $3 billion.
CLARINS SALES GAIN: Groupe Clarins posted consolidated net sales of 238.3 million euros, or $293.6 million at current exchange, up 5.8 percent in the first quarter of 2006 year-on-year. The company's beauty business, comprising sales of skin care products and makeup, rang up 156.8 million, or $193.2 million, a 10.5 percent rise. Clarins' fragrances generated 81.5 million euros, or $100.4 million, a decrease of 2.2 percent in the period. The end of its distribution agreement with Procter & Gamble in the U.S. on Jan. 1 negatively impacted Clarins' fragrance turnout in the first quarter of 2006. On a like-for-like basis, the company's net fragrance sales rose 15.6 percent. At constant exchange rates, they rose 11.6 percent. Clarins said in a statement the quarterly results were "very satisfactory" and confirmed its full-year target of a 6 percent sales gain on a like-for-like basis over 2005.
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)