NIKE BUYBACK: Nike Inc. said Monday that its board has approved a four-year, $3 billion share repurchase agreement. In addition, the company expects to complete within a few weeks the four-year, $1.5 billion share repurchase program that the board approved in June 2004. “The completion of our previous $1.5 billion program two years ahead of schedule is a testament to our confidence in the long-term growth prospects for our company,” Nike chairman Philip H. Knight said in a statement. “By doubling the size of the new authorization to $3 billion, we are confident in the strength of our cash flow.”
BULOVA PROMOTION: Bulova Corp. has promoted Gary Simon to executive vice president of sales, a new position at the watch firm. Simon has been with Bulova since 1997. He most recently was regional vice president for the Western region. Simon reports to Tom Fosorile, senior vice president of sales, and is responsible for coordinating and directing sales and marketing efforts for Bulova’s regional and chain accounts. He will continue to direct sales for the Western region and assist in coordinating field sales activities.
SWISS ARMY MOVES: Swiss Army Brands Inc. has begun construction on its new North American headquarters at 7 Victoria Drive in Monroe, Conn. The building, which is expected to span more than 165,000 square feet on 26 acres, will house the firm’s corporate offices and warehouse facilities. The firm has been headquartered in Shelton, Conn., for the past 30 years. The new building is expected to be completed in January 2007 and cost $26 million. Swiss Army, a wholly owned subsidiary of Victorinox AG, in Ibach, Switzerland, makes watches, apparel, multifunctional tools and cutlery. The firm also expects to open a 15,000-square-foot showroom on Greene Street in New York this summer.
A room full of toiles at the haute couture atelier in the Dior exhibition at Les Arts Décoratifs, open in Paris since July 5. This is just one of three major exhibitions that have been timed to coincide with the house's 70th anniversary. See the rest of the exhibits, plus read WWD's look into the iconic brand's history. Link in bio. #wwdfashion (📷: @dominiquemaitre)
For spring, Pamplemousse's Danica Zheng presented her signature slip dresses attached to a white T-shirt along with floral windbreakers, off-the-shoulder cotton blouses and more. For more highlights from the New York trade shows, go to WWD.com. #wwdfashion
The Green Carpet Fashion Awards closed out Milan Fashion Week yesterday. The fashion industry flocked to the event, showing its efforts to support and spread the message of sustainability. Supermodel Gisele Bündchen said "if each one of us took at least one step is this direction, there is no saying how much could be done." #wwdeye #wwdfashion #mfw (📷: Lodovico Colli di Felizzano)
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)