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
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews