SEA CHANGE: The owner of Antik jeans is getting a new name. Marine Jet Technology Corp. will change today to Blue Holdings Inc., with a new pending ticker symbol to better reflect the nature of the company, said Paul Guez, chairman...
SEA CHANGE: The owner of Antik jeans is getting a new name. Marine Jet Technology Corp. will change today to Blue Holdings Inc., with a new pending ticker symbol to better reflect the nature of the company, said Paul Guez, chairman and chief executive officer. "The idea is that when the time is right, we can roll in other brands," said Guez, who also runs Blue Concepts, the maker of Yanuk jeans. He said a 1-for-29 reverse stock split will also go into effect today. Since January, Guez has cashed in some 1.6 million indirect shares of Innovo Group, the maker of Joe's Jeans, worth $6.5 million. He and his brother, Hubert, control 21 percent of Innovo stock. Their company, Azteca Production International, manufacturers much of Innovo's private label product.
SAFETY DANCE: Security inspectors are evaluating whether La Samaritaine, the Paris department store owned by LVMH Moet Hennessy Louis Vuitton, will be forced to close temporarily to meet Paris fire safety standards. A spokesman for the French luxury group said the century-old store, located between the Rue de Rivoli and the Seine, failed a city inspection Feb. 17 and has been "obligated" to do major renovation work. He said experts are sizing up the nature of the work, and are scheduled June 9 to say how long it will take. The spokesman refused to comment on whether the store, which employs 750 people, would be forced to close for a while, a scenario workers fear. LVMH acquired Samaritaine in 2000. The luxury group also runs the upscale department store Le Bon Marche on the Left Bank.
POLY STAPLE DUMPING: The U.S. Commerce Department, in a preliminary report, determined that South Korean firm Huvis Corp. was dumping polyester staple fiber on the U.S. market and called for public comment. Should the review back the initial findings, U.S. Customs & Border Protection will be instructed to impose duties on the company's imports of the products, which is used as an interlining in ski jackets. Wellman Inc., KoSa and DAK Fibers requested the review in May 2004.
THE AGENTS BEHIND THE MODELS: Production began Monday for "The Agency," a new reality TV series that will provide an inside look at how Wilhelmina Models works and the relationships that exist between agents and talent. VH1 has teamed up with Wilhelmina to produce the TV series, which will follow the agents to casting calls, catwalks and client meetings. GRB Entertainment will distribute "The Agency" internationally.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)