In Brief: Stocking up on Jones … Chanel Taps Van Cleef Exec … Fakers Foiled …
STOCKING UP ON JONES:
Shares of Jones Apparel Group Inc. shot up $1.70, or 6.1 percent, to close at $29.40 in New York Stock Exchange action Tuesday after Merrill Lynch analyst Virginia Genereux, in a morning research note, upgraded the...
Shares of Jones Apparel Group Inc. shot up $1.70, or 6.1 percent, to close at $29.40 in New York Stock Exchange action Tuesday after Merrill Lynch analyst Virginia Genereux, in a morning research note, upgraded the firm’s stock to “buy” from “neutral.” Genereux noted, “The ‘uncertainty overhang’ relating to the Polo [Ralph Lauren Corp.] licenses has been removed….Jones managed the Polo license situation extremely well from a shareholder perspective, and we think investors will come to view Jones’ exit from the Lauren business as a good thing.” She added, “Jones should be able to retain a material portion of the Lauren square footage, because department stores trust its expertise.” As reported, last week Jones walked away from the contested Lauren by Ralph Lauren license and sued Polo and former Jones president Jackwyn Nemerov.
CHANEL TAPS VAN CLEEF EXEC:
Chanel Inc. has appointed Marc Hruschka as vice president for watches and fine jewelry. Hruschka, who begins at Chanel on Monday, joins from luxury jeweler Van Cleef & Arpels, where he held the post of vice president of retail merchandising, marketing, wholesale and communications. He succeeds Maggy Siegel, who left last February to become president and chief executive officer of the Judith Leiber brand. Hruschka will oversee the wholesale and retail businesses for Chanel’s watch and fine jewelry division. In the U.S., Chanel has eight fine jewelry and watch boutiques, including a unit on Madison Avenue in Manhattan and two in Hawaii.
Over 100,000 counterfeit Versace ready-to-wear items were confiscated Saturday in a massive seizure by federal and local authorities, in five counties in southern California, as well as in Fresno, Calif. and Phoenix. It was the biggest bust of fake Versace merchandise in the history of the fashion house. There were 75 seizures in different locations. News of the big bust was announced Tuesday by the U.S. Federal Marshall’s office in Los Angeles and by Gianni Versace SpA.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
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