In Brief: Madison Avenue Gives…All In The Family…Friedman’s New Team…
MADISON AVENUE GIVES:
This Sunday marks the 17th annual Miracle on Madison Avenue event, where 150 Madison Avenue-based retailers, restaurants and galleries donate 20 percent of the day’s sales to The Children’s Aid Society,...
This Sunday marks the 17th annual Miracle on Madison Avenue event, where 150 Madison Avenue-based retailers, restaurants and galleries donate 20 percent of the day’s sales to The Children’s Aid Society, a health-care program that serves New York’s neediest children and families. Giorgio Armani, Borghese, DKNY, Ralph Lauren, Prada, Hermès and David Yurman are expected to participate. The event kicks off at noon with a ribbon cutting by designer Liz Lange at 69th Street and Madison Avenue, and follows with entertainment at various tents between 57th and 86th Streets, until 5 p.m.
ALL IN THE FAMILY:
Members of the Zimmer family announced plans to tender a cash offer to acquire all outstanding shares of Reeds Jewelers Inc. With the offer the family anticipates bumping its ownership stake up to at least 90 percent, purchasing shares through a newly formed affiliate at a price to be determined. Alan Zimmer, president and chief executive officer, and eight other family members collectively own approximately 87.5 percent of outstanding stock. Any remaining shares not obtained in the offer will be acquired in a “short form” merger of Reeds and the affiliate. No approval from Reeds’ board of directors is necessary.
FRIEDMAN’S NEW TEAM:
Friedman’s Inc., the troubled jewelry retailer based in Savannah, Ga., has established an office of the chairman following the resignation of Bradley Stinn as its chief executive officer. In addition to Douglas Anderson, president and chief operating officer, the group consists of Robert Cruickshank, a company director who has been named nonexecutive chairman, and Richard Cartoon, appointed interim financial consultant following the departure, as reported, of chief financial officer Victor Suglia on a leave of absence. A search for a new ceo will commence shortly. Friedman’s also said that, due to technical defaults under its credit facility, it was suspending dividend payments and was in talks with its lenders. As reported, Friedman’s is under investigation by the Securities and Exchange Commission regarding allegations of fraud brought against it and other defendants by Capital Factors.
YOOX R US:
Yoox, the online designer clothing and accessories Web site, has launched Baby Boom, a virtual children’s wear and accessories department. The Italy-based e-commerce site that specializes in discounted, end-of-season designer collections, currently stocks Diesel Kids, Roberto Cavalli Angels and Devils, Vintage 55, Fiorucci and Simonetta.Yoox unveiled the new area on Nov. 26 and in the first three days, sold 20 percent of its stock, the company said. As reported, in September Yoox received an injection of $5.8 million from Benchmark Capital, an international venture capital fund, and plans to use the money to develop a presence in the Far East and expand in the U.S., one of its fastest-growing markets.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast