HONORING OLEG: Oleg Cassini will take home the third annual gold medal for fashion from the National Arts Club on Oct. 6. The designer will pick up the award at a black-tie reception at the historic Gramercy Park institution from Lavelle Olexa, senior vice president of fashion merchandising at Lord & Taylor. Carolina Herrera was last year's recipient and the late Geoffrey Beene was the 2003 honoree. The 93-year-old Cassini, who was honored earlier this year by the Lotos Club with its award of distinction, continues to work a five-day week from his Upper East Side town house.

FINLAY FEELS THE PINCH: Shares of Finlay Enterprises plunged more than 15 percent Wednesday in Nasdaq trading, to $8.42 a share, after the leased fine jewelry operator said Wednesday it will cease running locations in 194 units of Federated Department Stores. The closures follow news of division realignment and store divestitures resulting from the merger with May Co. Finlay now will operate in 404 Federated doors. Finlay also expects to gain 11 doors, which are planned to generate $15 million in revenue. The revenue of the 194 stores lost to Finlay is $242 million, or 24 percent of the company's projected fiscal 2005 sales of $1 billion.

SWEAT FREE: A federation of university-based labor-rights groups kicked off a drive across 40 campuses Wednesday to improve the wages and working conditions of the apparel workers who make their college T-shirts and other apparel. United Students Against Sweatshops appealed to college administrators to require their apparel suppliers to use factories that pay a so-called livable wage and allow workers to unionize. The nonprofit Worker Rights Consortium would give factories that meet the criteria a "Sweatfree" designation. The consortium said apparel workers in the Guangdong province of China earn a minimum wage of $69.44 a month, well below the subsistence threshold of $116.13 for a family of three, and that dramatic wage increases would have a comparatively minor impact on wholesale prices.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus