In Brief: Realty Reality … A Woman’s Place is … Continental Acquires Cotton …
IN THE BOARDROOM: Phillips-Van Heusen Corp. said Friday that in connection with its acquisition of Calvin Klein Inc., David Landau, Henry Nasella and Christian Nather have been elected to its board of directors. All three new directors are partners in...
IN THE BOARDROOM: Phillips-Van Heusen Corp. said Friday that in connection with its acquisition of Calvin Klein Inc., David Landau, Henry Nasella and Christian Nather have been elected to its board of directors. All three new directors are partners in Apax Partners, which made a $250 million equity investment and provided a loan of up to $125 million to PVH in connection with the acquisition. In a separate matter, PVH said Maria Elena Lagomasino resigned as a director, due to other business commitments and unrelated to the acquisition or the election of the new directors.
REALTY REALITY: Kmart Corp. on Friday reached an agreement with Kimco Realty Corp. for the joint marketing of approximately 317 U.S. and Puerto Rican store locations and related properties that the bankrupt retailer is in the process of closing. With this agreement, Kimco or its affiliates will help Kmart find retailers, landlords and other parties interested in obtaining Kmart properties. Kimco may also redevelop or otherwise improve the locations in order to increase their value. The properties to be marketed range in size from about 50,000 square feet to more than 190,000 square feet and are situated in freestanding, strip and mall locations in 44 states and Puerto Rico. Additionally, the group includes 57 Kmart SuperCenters. Troy, Mich.-based Kmart received court approval to close these stores on Jan. 29.
A WOMAN’S PLACE IS…: Federated Department Stores ranked 11th in the list of the 30 top companies for executive women, compiled by the National Association for Female Executives. Last year, Federated ranked 23. Hundreds of companies get evaluated, and Federated beat all of the other retailers on the list. According to NAFE, the competition intensified this year by counting women in line positions — the operating jobs with profit-and-loss responsibility. At Federated, more than 60 percent of management positions are filled by women — and in senior management ranks, more than 50 percent, many in P&L roles. To be on NAFE’s "Top 30" list, companies must have at least two women on the board, a steadily increasing number of women in senior management, programs that groom women for upper management positions, maternity/paternity leave and flextime. NAFE, which was founded in 1977, is the largest women’s professional and business association in the country and publishes Executive Female.
CONTINENTAL ACQUIRES COTTON: Cotton Ginny, a retailer of casual clothes, has been acquired by Continental Saxon Group, a real estate holding company. Both firms are based in Toronto. The clothier, with 200 stores across Canada under the Cotton Ginny banner and 90 under the Tabi International name, was operating under court protection from creditors, as reported. It was planning to shut more than 100 of its unprofitable outlets, keep the Tabi outlets and sell the rest. Continental will continue to operate 110 of the more profitable Cotton Ginny stores and may buy up to 60 of the outlets that are set to close. Terms of the agreement were not disclosed, but sources said it amounted to about $4.5 million, converted from Canadian dollars at current exchange rates. Continental has a reputation of being a real estate turnaround specialist, buying distressed properties and building them back up. It has a portfolio of shopping malls, residential and commercial properties. Cotton Ginny is its first foray into retail. The company said it was attracted to Cotton Ginny because of its cash flow and its brand name. It said it doesn’t plan to turn around the retailer and sell it. Cotton Ginny had annual sales of about $131 million, but owed creditors close to $31 million, including $10 million to suppliers. Women’s apparel manufacturer and retailer Nygård had also made a bid for Cotton Ginny. But the bid also included the Tabi stores, which are not for sale and will continue to be operated by Cotton Ginny’s acting president, Larry Gatien.
“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
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye