KUNZ CASH: Gap Inc. will pay former chief financial officer Heidi Kunz a severance payment consisting of $606,300 in bonus and a year’s salary, according to a Form 8-K filed Tuesday with the Securities and Exchange Commission. Kunz announced her...
KUNZ CASH: Gap Inc. will pay former chief financial officer Heidi Kunz a severance payment consisting of $606,300 in bonus and a year’s salary, according to a Form 8-K filed Tuesday with the Securities and Exchange Commission. Kunz announced her resignation Jan. 18. Gap paid Kunz an annual base salary of $550,000. Gap also said Kunz must repay the interest-free $2 million loan she received in January 2000 from Gap by Feb. 1, 2005, or immediately if she sells the property pledged to secure the loan or breaches any provision of her severance agreement. Kunz also agreed to immediately pay to Gap any proceeds, against the outstanding loan balance, from the sale of any Gap stock options or stock.
VC’S NEW GC: Julia Davis has joined Value City Department Stores Inc. in the new post of executive vice president and general counsel, reporting to John Rossler, president and chief executive officer. Davis had worked closely with Value City for 10 years while a partner at the law firm of Vorys, Sater, Seymour and Pease.
FOOD CHAIN: Groupe Galeries Lafayette said Monday that it had reached an agreement with France’s Casino supermarket chain extending their joint ownership in Monoprix until 2006. Their previous agreement was set to expire in June. In 2006, Galeries Lafayette will hold an option to sell its 50 percent stake in the French supermarket chain to Casino. "In this uncertain, environment, this agreement provides Galeries Lafayette with necessary financial resources and decision-making flexibility," said co-chairmen Philippe Houze and Philippe Lemonie in a statement. The agreement also stipulates that Casino can increase its Monoprix stake another 10 percent after April 1, 2009. Galeries Lafayette sold half of Monoprix to Casino in May 2000.
@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