In Brief: PPR Sale … Lucky Break … Extra Credit … Gallery Goers …
PPR SALE: Rexel, the electronics parts subsidiary of Pinault-Printemps-Redoute, said Tuesday that it would sell three companies specializing in the distribution of electronic security equipment to private-equity firm Electra Partners for $125.4...
PPR SALE: Rexel, the electronics parts subsidiary of Pinault-Printemps-Redoute, said Tuesday that it would sell three companies specializing in the distribution of electronic security equipment to private-equity firm Electra Partners for $125.4 million, converted from euros at current exchange rates. As reported, PPR, controlled by French magnate François Pinault, has been shedding its B2B activities in favor of its higher-margin retail and luxury holdings. PPR controls 62.2 percent of Italy’s Gucci group. PPR has already shed its Guilbert office supplies division, Pinault Boix & Materiaux wood and construction supplies division and Finaref and Facet consumer credit units. It also is expected to divest its entire Rexel subsidiary.
LUCKY BREAK: Condé Nast has hired a publisher for its so-called "Lucky for Men" project. Alan Katz, currently publisher of New York, is leaving Primedia to join the startup. "It’s a smart idea at a good time," he said. His departure reinforced the feelings of New York staffers that their magazine will be sold, despite repeated denials by Primedia. "I don’t think there’s any doubt about that," said one high-level New York source.
EXTRA CREDIT: Gadzooks Inc. on Tuesday said that it has doubled its credit line in order to facilitate its transition to selling women’s wear only. The Dallas-based retailer reported that it has obtained a new three-year $30 million senior secured credit facility from Wells Fargo Retail Finance. Gadzooks said the new line of credit replaces its extant $15 million facility and will be used to provide more liquidity as the company exits the men’s wear business in the second half of this year. "We believe the asset-based facility provided by Wells Fargo Retail Finance provides the flexibility and liquidity we need to successfully complete our strategic conversion," said chief executive Jerry Szczepanski in a statement.
GALLERY GOERS: French retail group Galeries Lafayette said sales in the first quarter ended March 31 rose 4.8 percent to $1.51 billion against $1.44 billion a year ago. Dollar figures are converted from euros at current exchange. At constant exchange and comparable structure, the gain amounted to 3.2 percent. Sales at its department stores inched up 0.3 percent to $649.5 million. Galeries blamed a lack of tourists in Paris for a 4 percent fall at its Boulevard Haussmann flagship, but said other branches in France were up 2.4 percent. Sales at its Monoprix discount and grocery stores rose 4.7 percent to $492.7 million.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty