In Brief: EU Beauty Ban … PPR’s Gucci Stake … S&P Downs Guess … Cargo Bill Takes Off …
EU BEAUTY BAN: The European Parliament voted Wednesday in favor of legislation that, if passed by all European Union member states, will ban EU cosmetic companies from testing all new products on animals and bar imports of all new beauty products...
EU BEAUTY BAN: The European Parliament voted Wednesday in favor of legislation that, if passed by all European Union member states, will ban EU cosmetic companies from testing all new products on animals and bar imports of all new beauty products tested on animals by 2009. The legislation puts to rest years of disputes over how tough new regulations should be, but it could set the stage for a possible trade dispute with the U.S., if companies cannot find alternatives to animal testing in six years. The rules will not affect some 8,000 cosmetic ingredients tested on animals that are already on the market.
PPR’S GUCCI STAKE: Cutting the size of the bill coming due in 2004 and mirroring a similar move last month, Pinault-Printemps-Redoute SA added 1.1 percent to its stake in Gucci Group NV during the past two months. According to a filing with the Securities and Exchange Commission, PPR, through its Scholefield Goodman BV subsidiary in The Netherlands, spent $102.9 million for a total of 1,104,000 common shares of Gucci between Dec. 27 and Jan. 15, boosting its stake in the Dutch luxury powerhouse to 55.2 percent of outstanding shares. Because PPR has pledged to buy all shares of Gucci it doesn’t own in 2004 for $101.50 each, the transactions, at an average price of $93.20 a share, represent a savings of about $9.2 million for the French retailing giant.
S&P DOWNS GUESS: Standard & Poor’s reduced its corporate credit rating on Guess Inc. to "BB-minus" from "BB"and the firm’s subordinated debt rating to "B" from "B-plus." The outlook on Guess’ debt is negative. "BB" is the first step into noninvestment or "junk" territory, but one notch above "B." "The company’s performance in recent years has been hurt by the intensely competitive retail environment, waning consumer confidence, and consumers’ poor response to its product line," said the rating agency in a statement.
CARGO BILL TAKES OFF: A bill designed to tighten scrutiny of air cargo carried on commercial carriers was reintroduced in the Senate on Wednesday, as the audit arm of Congress released a study critical of weak security links in this mode of moving goods. Last fall, the Senate passed the legislation, but time ran out in the congressional calendar for House consideration. Among its criticisms, the General Accounting Office cited lax security by freight forwarders, the middle men who process air cargo received from manufacturers.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty