In Brief: PPR Sells Stake … Levi Extends Tender Deadline … Nike Loses Suit
PPR SELLS STAKE: French retailer Pinault-Printemps-Redoute is selling its remaining 10 percent stake in consumer credit firm Finaref to French bank Credit Agricole in a deal valued at 265 million euros, or $360.9 million at current...
PPR SELLS STAKE: French retailer Pinault-Printemps-Redoute is selling its remaining 10 percent stake in consumer credit firm Finaref to French bank Credit Agricole in a deal valued at 265 million euros, or $360.9 million at current exchange rates. Authorization by a French committee of credit establishments and investment enterprises is needed for the deal to move forward, the firms said in a joint statement. Selling its stake in Finaref allows PPR to “finalize its strategic shift aimed at concentrating on its two strategic activities of retail and luxury goods, while continuing to reinforce its financial structure,” the company said. PPR sold 90 percent of Finaref to Credit Agricole in Dec. 2002. LEVI EXTENDS TENDER DEADLINE: Levi Strauss & Co. is extending the date on its cash tender offer on up to $450 million of its outstanding 7 percent notes due 2006. Holders of the notes will now have until midnight, EST, on Jan. 12, to make the early tender. All other terms of the offer remain unchanged.NIKE LOSES SUIT: A Chinese animator has won a court battle against Nike over the company’s use of a stick figure illustration, China media reported Friday. Internet cartoonist Zhu Zhiqiang had sought $240,000 in compensation from Nike, as well as a public apology for copying one of his illustrations. A Beijing court ruled Wednesday in Zhu’s favor, ordering Nike to pay $36,000 in compensation and issue a public apology to Zhu, according to reports. Nike said it would likely appeal the decision. Separately, Nike said it had donated $1 million to the relief effort in Southeast Asia. The firm said that all direct Nike Southeast Asia employees had been accounted for and that Nike will assist employees in locating missing family members.
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