SEARS DROPS CANADA BID: Sears Holding Corp. has withdrawn its bid to privatize Sears Canada, after minority shareholders rejected the takeover Tuesday. Sears Holdings owns 54 percent of the Canadian retailer but can't take it private unless the holders of a majority of Sears Canada's minority shares approve the deal, which is valued at about $880 million. The Ontario Court of Appeal ruled that Illinois-based Sears Holdings could not appeal a September lower court decision that upheld an August ruling by the Ontario Securities Commission. The OSC had ruled Sears Holdings failed to disclose information related to support agreements with its investment banks that gave the banks a better deal than that offered to minority shareholders. The OSC ordered Sears Holdings to distribute another circular that excluded the banks from voting on the buyout offer, which was voted down by the minority shareholders.
NAUTICA AND CALLANEN KEEP TICKING: Nautica Apparel Inc. and Callanen International are winding up for the future. The lifestyle brand said Monday that it has renewed its licensing agreement with Callanen to manufacture, market, distribute and sell women's and men's watches, watchbands and watch components. The license runs to 2011. Nautica first signed on with Callanen in 1992. Nautica timepieces are distributed in department stores, watch specialty stores and jewelry stores worldwide. The brand is a subsidiary of VF Sportswear Inc., a division of VF Corp. Callanen, a division of the Timex Group, and also manufactures and distributes watches for Marc Ecko, Country Club and Versace.
AUSTIN REED SET FOR SALE: Darius Capital, a wholly owned subsidiary of the London-based Dawnay Day Corporate Finance, has made a bid for Austin Reed, the classic British men's and women's wear retailer. Austin Reed's directors have recommended the company's shareholders accept the offer, which values the company at 49 million pounds, or $92.8 million. Darius Capital, controlled by Guy Naggar and Peter Klimt, currently holds a 39 percent stake in Austin Reed. If the sale goes through, Darius Capital plans to pull Austin Reed off the London Stock Exchange. However, Darius Capital has made clear the sale would not affect Austin Reed's licensing deals, including its women's and men's wear license with Hartmarx in the U.S.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)