KMART PENSION DEAL: As many as 150,000 Kmart workers and retirees of the former Kmart Corp. may share in a proposed $11.75 million settlement of a lawsuit filed in March 2002 against ex-Kmart officials over the investment of pension funds. The agreement must first be approved by a federal district court in Detroit. The complaint alleged that Kmart's former officials breached their duties to pension plan participants by allowing excessive investments in company stock despite knowing that Kmart was headed for bankruptcy, according to court documents. Kmart filed under Chapter 11 on Jan. 22, 2002 and emerged from bankruptcy in 2003 as Kmart Holding Corp. In March, the company merged with Sears, Roebuck and Co. and became the Sears Holdings Corp.
QUIKSILVER BOARD: Quiksilver Inc. added three directors in an effort to boost retail and international expertise on its board, effective Dec. 1. The Huntington Beach, Calif.-based action sports company, which also owns the Roxy women's brand and Rossignol ski label, named Laurent Boix-Vives, Timothy Harmon and Charles Exon to the board. Boix-Vives had served as chairman and chief executive officer of Skis Rossignol SA, which Quiksilver acquired this year. Harmon is the former president and chief merchandising officer of retailer Pacific Sunwear of California Inc. Exon is director of the nonprofit Quiksilver Foundation and has served as general counsel and executive vice president at the company.
WET SEAL CFO: John Luttrell on Tuesday was named executive vice president and chief financial officer at Wet Seal Inc., succeeding Douglas Felderman, who left in August for personal reasons. Luttrell resigned from Cost Plus on Tuesday. He was senior vice president and cfo of the home goods and entertainment product specialty retailer for five years and was promoted to executive vice president of finance in October 2004. Luttrell's previous jobs were at Bugle Boy Industries Inc., Midway Airlines Inc. and Arthur Andersen. Wet Seal, the Foothill Ranch, Calif.-based specialty apparel chain, is undergoing an operational turnaround and has seen monthly same-store sales jump more than 40 percent in each of the last six months.
Assouline is paying homage to the late Azzedine Alaïa with a reprint of "Alaïa Livre de Collection.” The book is comprised of photographs of the designer's summer 1992 runway show with models Christy Turlington Burns, Naomi Campbell and Tyra Banks, pictured here at right. #wwdfashion #alaia #tyrabanks
Fall 2018 accessories take on a painterly hue, with Nebulas Blue among Pantone’s top 10 colors of the season. (📸: @jonghyupstudio ; editor: @twallz21 ; stylist and set designer: @haideefindlaylevin ) #wwdaccessories
@americanapparelusa is relaunching the brand outside of the U.S. today, opening its online store to more than 200 countries. The company is also contemplating a return to brick-and-mortar, though details have not been confirmed. In tandem with the expanded distribution is a recasting of a social media ad campagn, called “Back to Basics,” pictured here, with a focus on diversity and a cast of models above the age of 21. Read more on WWD.com #wwdnews #wwdfashion
Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge
Jewelry label @alisonlou has made a name for itself with fine jewelry that speaks to the Millennial market. Now @twallz21 reports that the label is bringing those playful ideas to a new affordable line of lucite hoops with the launch of Loucite by Alison Lou. Here’s a look from the line modeled by @emrata. #wwdaccessories
@sarahjessicaparker and @gilt are teaming up on a bridal ready-to-wear line. Tomorrow, Parker will launch SJP by Sarah Jessica Parker Bridal — and as part of the launch, Gilt will offer 15 exclusive styles from the SJP by Sarah Jessica Parker footwear collection that were designed to complement the new line. Made out of 10 styles, the line is designed for a variety of occasions, from bridal showers to receptions. Get more details on WWD.com #wwdfashion