JOE BOXER IMPACT: Shares of Iconix Brand Group Inc. went up Monday after the company completed an $80 million acquisition of the Joe Boxer brand. Shares closed at $9.48, up 67 cents, in over-the-counter trading. The purchase price for Joe Boxer was $40 million in cash, 4,350,000 shares of restricted stock and an assumption of $11 million in debt, the company said. The brand, through an agreement with Kmart and international licensees, generates $20 million in annual royalty income. Financing for the $80 million deal was through an increase of Iconix's current asset-backed securitization note that is secured by the firm's intellectual property. UCC Capital, the investment banking firm that advised Iconix and acted as the underwriter, said that the $45 million single tranche of asset-backed bonds has a seven-year maturity, due in 2012. The note was privately placed.
CEO IS PICKED: Donald J Pliner, the footwear and accessories firm, has promoted Roxanne Ehrenberg to chief executive officer and vice president of sales and operations. She succeeds Len Pesko, who has left the firm. Ehrenberg will be based in New York and will oversee all of the company's divisions, including women's and men's accessories, footwear, leather clothing, the new Friends of Babydoll Collection for pets, retail stores and licensees. She has been with Pliner for a decade, most recently as sales director of the Southwest territory. Previously, she worked for more than 11 years at Neiman Marcus as a buyer of shoes, contemporary men's wear, men's furnishings and accessories.
ADIDAS SIGNS AGASSI: Tennis champ Andre Agassi may be nearing the end of his playing career, but Adidas doesn't seem to mind. Agassi, who was a longtime Nike-sponsored athlete until that contract ended in January, has now become an Adidas-sponsored player. Adidas will begin outfitting Agassi at the Mercedes-Benz Cup in Los Angeles this week. Agassi's wife, Steffi Graf, is also an Adidas-sponsored athlete.
PARKER JOINS SAFILO: Safilo USA, the Parsippany, N.J.-based subsidiary of Italian eyewear firm Safilo Group, appointed Timothy Parker director of product development, a new position. Parker reports to Claudio Gottardi, president and chief executive officer of Safilo USA. He will be responsible for managing the developmental process and design direction for all domestic-based licensed, proprietary and private label eyewear brands, such as Ralph Lauren, Juicy Couture and Kate Spade, sold by Safilo in North America. He also will work with the parent company to edit what will be distributed in the U.S. market from the European collections. Parker was most recently vice president of product development for Lantis Eyewear.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)