L'OREAL EYES KANEBO: L'Oréal teamed up with Morgan Stanley in a bid to buy Kanebo, which is currently under restructuring by the Industrial Revitalization Corporation Japan, according to several media reports. Kanebo could not be reached for comment. A spokesman for L'Oréal in Paris had no comment Thursday. Kao Corp. had been considered as a likely winner to buy Kanebo and was said to be in a joint bid with Goldman Sachs. IRCJ will hold a second round of bidding on Sept. 27 to select bidders for Kanebo and Kanebo Cosmetics. A third round of bidding is expected by the end of November. One report noted that Kanebo will spin off its fashion division, which has a licensing business with Fila and Lanvin.
DONNA HEADS TO SOUTH KOREA: Donna Karan International Inc. has signed a licensing agreement with SK Networks Co. Ltd. to open retail locations under the Donna Karan and DKNY trademarks throughout South Korea. Under the three-year agreement, which is renewable for an additional three years through December 2011, SK Networks plans to open a DKNY flagship in Chungdamdong in the spring. It then will open five DKNY and one Donna Karan Collection shop-in-shops within department stores. Before the term of the agreement is over, SK Networks expects to have 53 boutiques in South Korea, six of which will be freestanding stores.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"