In Brief: Setting Things Rite … Presidents Meet on Trade …
SETTING THINGS RITE: Martin Grass, former chairman and chief executive officer of Rite Aid Corp., has agreed to pay $1.45 million to settle a shareholder lawsuit regarding alleged false financial information provided by the company over a 30-month...
SETTING THINGS RITE: Martin Grass, former chairman and chief executive officer of Rite Aid Corp., has agreed to pay $1.45 million to settle a shareholder lawsuit regarding alleged false financial information provided by the company over a 30-month period. As reported, Rite Aid in December 1999, under a new management team, said that the company overstated earnings by $1.6 billion during the time span. Grass, who did not admit to any wrongdoing in the settlement of the civil lawsuit, still faces federal criminal charges in Philadelphia arising from the financial statements during the same 30-month period. The trial is set to begin on June 9 in Harrisburg.
PRESIDENTS MEET ON TRADE: Five Central American presidents who are engaged with the U.S. in regional free-trade negotiations plan to meet with President Bush, Capitol Hill lawmakers and high-level trade officials today to shore up support for the talks. The presidents — Francisco Flores of El Salvador, Alfonso Portillo of Guatemala, Enrique Bolanos of Nicaragua, Abel Pacheco of Costa Rica and Ricardo Maduro of Honduras — will meet with Bush to discuss "the current state of negotiations" on the U.S.-Central America Free Trade Agreement and their support of the war against Iraq, said White House Press Secretary Ari Fleischer. Negotiators, who concluded the third of nine scheduled rounds of talks in El Salvador last week, have pledged to reach an agreement by the end of the year.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast