In Brief: Saks’ Legal Eagle…Leather Buy…Ongoing Hostilities…Banned From Botswana
SAKS’ LEGAL EAGLE: Saks Inc. has promoted Charles Hansen to executive vice president and general counsel. He succeeds Brian Martin, who will concentrate on real estate and international development for the Birmingham, Ala.-based...
SAKS’ LEGAL EAGLE: Saks Inc. has promoted Charles Hansen to executive vice president and general counsel. He succeeds Brian Martin, who will concentrate on real estate and international development for the Birmingham, Ala.-based retailer’s Saks Fifth Avenue Enterprises division. Hansen had been senior vice president and deputy general counsel at Saks since 1998. Before that, he served in numerous legal capacities at Saks’ Carson Pirie Scott & Co. nameplate. Brian Martin is the brother of R. Brad Martin, Saks Inc. chief executive.
LEATHER BUY: Trussardi has acquired a Tuscan leather goods manufacturing company, Zetati Srl, for $2.7 million (converted from 2.5 million euros at current exchange). This acquisition is in line with Trussardi’s strategy to focus and strengthen its leather goods division. In a statement, Trussardi estimated sales of $122.8 million this year, in line with 2002’s volume.
In the latest act of a continuing hostile takeover drama, Simon Property Group Inc. said approximately 64 percent of Taubman Centers Inc.’s common shares have been tendered into its $20 a share all-cash offer. Simon and partner Westfield America Inc. also extended the tender offer deadline again, this time to midnight on Oct. 3, from Aug. 29. Taubman once again rejected the entreaty, saying the partnership’s acquisition of about 31.5 million, or less than 39 percent, of the approximately 81 million Taubman voting shares, which include common and preferred stock, is “clearly insufficient to meet Simon’s own minimum tender offer condition to purchase the company,” since approximately 54 million voting shares must approve any sale or amendment to Taubman’s charter.
BANNED FROM BOTSWANA:
The Committee for the Implementation of Textile Agreements, an interagency group, has issued a two-year order to the Bureau of Customs & Border Protection to deny entry into the U.S. of textile and apparel products from Uni-Oriental (Pty) Ltd., which is based in Botswana. Bureau officials conducted an on-site verification inspection of Uni-Oriental in Botswana and then informed CITA that Uni-Oriental was either illegally transhipping, had closed or was unable to produce records to verify production.
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18