DELIA'S GOES FOR A SPIN: In a Securities and Exchange Commission filing Wednesday, Alloy Inc. said it filed a registration statement to spin off Delia's, the company's direct marketing and retail subsidiary. The company said it expects to launch a $20 million subscription rights offering of shares of Delia's. "In the spin-off, each Alloy Inc. shareholder will receive one share of Delia's Inc. common stock for every two shares of Alloy Inc. common stock held on a to-be-determined record date," the company said in a statement. "The exercise price in the subscription rights offering has not been established, but will be based on a $175 million pre-money valuation for [Delia's]."
TIME IS OF THE ESSENCE: Hublot Watches has named Scott Rosen as president of Hublot North and South America. He succeeds Fabrizio Cocchiano, who had been in the post since January. Most recently, Rosen was president of Vacheron Constantin North America, where he worked since 1998 in various offices. Earlier, he held posts at the North American Watch Corp. (now the Movado Group), Ebel, Blancpain and Audemars Piguet. "When you have the chance to get someone like Scott Rosen with a deep knowledge of the luxury watch industry and a background with high-end products, you make sure you close the deal immediately," said Jean-Claude Biver, chief executive officer of Hublot. "His appointment is a clear message of where Hublot wants to be in the U.S." Rosen's successor at Vacheron Constantin is Julien Tornare, who was most recently vice president for business development and has been with the company since 1998.
QUIKSILVER ON THE SLOPES: Quiksilver Inc. said it will combine the U.S. operations of its Rossignol and Dynastar divisions and establish a new facility for the business in Park City, Utah, which will also house the Roxy ski business that is to debut in 2006. In addition, certain functions for Quiksilver's snowboard brands will be based at the new center. The company also said it plans a distribution facility in the Salt Lake City area. Many of Rossignol's administrative functions will be consolidated in Quiksilver's headquarters in Huntington Beach, Calif.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"