In Brief: Refusing to be Jilted … The Graduates … Bean’s Move Forward … Selling Selfridges …
REFUSING TO BE JILTED: EB Acquisition Ltd. has written to the management of Elder-Beerman Stores Corp. decrying the department store’s decision to negotiate exclusively with a single suitor and urging a “full and fair” auction of the...
REFUSING TO BE JILTED: EB Acquisition Ltd. has written to the management of Elder-Beerman Stores Corp. decrying the department store’s decision to negotiate exclusively with a single suitor and urging a “full and fair” auction of the company. The investor group said it is interested in making an all-cash offer for the company, even at a premium to the current stock price and, if successful in its bid to acquire the retailer, intends to keep the firm’s headquarters in Dayton, Ohio, “maintain its employee base and expand in various areas in the United States.” Elder-Beerman stock closed unchanged at $4.70 in Nasdaq trading Wednesday but is up $1.36, or 40.7 percent, since it revealed last Thursday that it was negotiating with a single party about a sale. The letter from EB Acquisition was signed by Daniel Summers as managing member of the firm.
THE GRADUATES: Anna Wintour, editor in chief of Vogue, will give the commencement address to the class of 2003 at the Fashion Institute of Technology on Friday, while Calvin Klein will receive an honorary degree, the college said. Klein is a 1963 graduate of FIT. About 2,600 students will receive their degrees at the 10 a.m. ceremony at Radio City Music Hall, which will also include an address from Sen. Charles Schumer (D., N.Y.).
BEAN’S MOVE FORWARD: L.L. Bean is said to have taken the next step on its plan to purchase Eddie Bauer by hiring consultants to help it review each of Bauer’s assets. As reported, Bauer’s parent, The Spiegel Group, is operating under Chapter 11 bankruptcy court protection. L.L. Bean is still in the early stages of its potential acquisition of some or all of Bauer’s assets, including the nameplate, customer list and warehouses. Spiegel so far has maintained that Bauer is not for sale, but market sources said two months ago it was quietly shopping the operation.
SELLING SELFRIDGES: The clock is ticking for Iranian property tycoon Robert Tchenguiz to make a rival offer for London-based department store Selfridges. Sources say Tchenguiz, who is working with the consortium Aletheia Partners, is putting together a knockout bid that will value the company at more than $1 billion, and submit it by the end of the week. A spokeswoman for Tchenguiz did not return phone calls, while a Selfridges spokeswoman declined to comment. On Friday, Galen Weston’s bid for Selfridges — which already has been recommended by the store’s board — was mailed to shareholders.
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
“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