In Brief: Point of Reference … Columbia’s Mountain Move …
POINT OF REFERENCE: The precarious state of the junior business has one chain fighting to stay relevant. Since filing for Chapter 11 bankruptcy protection in January, Los Angeles-based Reference Clothing Inc. has been forced by the court to close two...
POINT OF REFERENCE: The precarious state of the junior business has one chain fighting to stay relevant. Since filing for Chapter 11 bankruptcy protection in January, Los Angeles-based Reference Clothing Inc. has been forced by the court to close two of its 23 stores primarily located on the West Coast. One store at the Boulevard Mall in Las Vegas and another at the Del Amo Fashion Plaza in Torrance, Calif., shuttered in February. According to court papers, the chain filed the "emergency" petition to avoid closing a third location at Northridge (Calif.) Mall. Stores at Paseo Colorado in Pasadena, Calif., and at The Grove in Los Angeles remain open. Company owner and president, Young On, could not be reached for comment. Ian S. Landsberg, On’s attorney, also did not return phone calls. According to court documents, a partial list of the largest claims against Reference totals $3.5 million while the company’s assets are estimated to be in the $1 million to $10 million range. Reference, like Los Angeles-based Forever 21 and Sweden’s Hennes & Mauritz, is a cheap-chic emporium, with trendy, disposable fashion at prices ranging from $22 to $100.
COLUMBIA’S MOUNTAIN MOVE: Columbia Sportswear Co. said Thursday it has entered into a definitive agreement to acquire Mountain Hardwear Inc. for approximately $36 million, including approximately $30 million in cash and assumption of $6 million in debt. The Portland, Ore.-based outdoor apparel company said the merger is subject to approval by the shareholders of Mountain Hardwear and is expected to close on March 31. Richmond, Calif.-based Mountain Hardwear designs, develops and markets technically advanced equipment and apparel for outdoor enthusiasts. A Columbia spokeswoman said apparel accounted for $24 million of Mountain’s $31.4 million in sales last year. Mountain Hardwear will continue to be based in Richmond and will operate as a wholly owned subsidiary. No layoffs are planned and company founders Jack Gilbert, Paul Kramer and Mark Wallenfels will continue to lead the senior management team. The Columbia logo won’t be featured on the Mountain Hardwear product.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)