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.
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)
The @cfda has shifted the dates of #NYFW, with Men’s showing on February 5 through February 7, and Women’s will directly follow, running from February 8 through 14. The preliminary schedule will be released on the CFDA’s web site in the next few days, but Mark Beckham, VP of marketing for the CFDA, revealed that @rafsimons will be back to close the men’s-specific part of the week with a show on February 7 #wwdfashion (📷: Kelly Taub)
@ferragamo is introducing a new space dedicated to the development of women’s and men’s leather good samples. The laboratory, which is created eco-friendly materials and designed to reduce the environmental impact of the manufacturing processes, will allow the company to expand its accessories offering through traditional artisanal approaches. #wwdfashion (📷: @aitorrosasphoto)
How does a “regular, degular, schmegular” girl from the Bronx, N.Y., become a Grammy-nominated artist with a certified platinum record in less than a year? Call it the @iamcardib come up. The 25-year-old has become a musical sensation, and the fashion world is taking note. “If I could describe her style I would say drama. She’s really into the dramatics,” says Cardi B’s stylist @kollincarter. See how Carter styles her bold and out there looks with the link in bio. #wwdfashion
“There is no formula. There is no guideline. I can watch Ted Talks all day, but there is no one who can advise me on exactly what it is I should be doing,” said @ronniefieg, CEO of @kith, in an interview with WWD’s @ariahughes at the brand’s new SoHo office in Manhattan. Head to WWD.com to see how Fieg went from hanging out in shoe stockrooms at 13 to building his own business. #wwdfashion (📷: @weston.wells)
@fearofgod and @maxfieldla have teamed up on a pop-up installation. The store, located in the gallery space across from Maxfield’s Melrose Ave location, is the site of the brand’s House of God pop-up in which Fear of God founder @jerrylorenzo has created a church-inspired installation. A dozen vintage church pews sit in front of an LED screen playing 90s gospel singers in an effort to re-create an environment akin to a Southern Baptist Church, Lorenzo explained. Read more about the pop-up on WWD.com #wwdfashion (📷: Jennifer Johnson)
Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion