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.
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews