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.
@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)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews