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.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion