In Brief: Promis Kept … Sweet Home … Retail Real Estate Available …
PROMISE KEPT: Affiliates of Soros Private Equity Partners made good on a March 2003 standby commitment to Bluefly Inc. by investing an additional $1 million in the internet retailer through the purchase of Series E convertible preferred stock. The...
PROMISE KEPT: Affiliates of Soros Private Equity Partners made good on a March 2003 standby commitment to Bluefly Inc. by investing an additional $1 million in the internet retailer through the purchase of Series E convertible preferred stock. The convertibles can be changed into common stock at the holder’s option at any time after the conversion provisions are approved by the company’s stockholders at a rate of 76 cents per share and will earn dividends at the rate of 12 percent a year. Soros, which in total has invested more than $50 million in Bluefly, now owns a 76.5 percent stake in the company’s equity on a diluted basis.
SWEET HOME: Marks & Spencer has unveiled plans to revitalize its home furnishings business. The company said in a statement its first freestanding home store will be called Marks & Spencer Lifestore, and is due to open in Gateshead, Newcastle, England next spring. A full-sized, two-story house will be built inside the store by the minimalist architect John Pawson — who also is designing the store interior. Every year, a different architect will design a new model home to express a modern lifestyle. Vittorio Radice, who joined M&S this year as executive director of the home business, also plans to organize the store around rituals rather than departments, and said merchandise will cover such activities as entertaining, resting and traveling. “The way we curate and edit our homes has changed so much in the last 30 years,” Radice said. “The M&S Lifestore will show people that we can go a step further, and rely on our own judgment to create something really personal.”
RETAIL REAL ESTATE AVAILABLE: The Walt Disney Co. is considering selling its Disney Store chain in North America and Europe, following its sale of Disney stores in Japan to Oriental Land Co. Ltd., operator of the Tokyo Disney Resort, in 2001. Peter Whitford, president of the chain, has resigned. Disney has been closing North American stores and has about 380 currently. It once had over 520 in North America. There are 548 worldwide
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews