In Brief: The Gator Invades China…Spiegel Update…The Mighty Quinn
THE GATOR INVADES CHINA: Izod parent Phillips-Van Heusen Corp. said the brand has named Hemple International Group, one of China’s largest fashion brand licensing and marketing companies, as the exclusive licensee for its...
THE GATOR INVADES CHINA: Izod parent Phillips-Van Heusen Corp. said the brand has named Hemple International Group, one of China’s largest fashion brand licensing and marketing companies, as the exclusive licensee for its men’s and women’s sportswear in China, Hong Kong and Taiwan. The agreement calls for Hemple, based in Hangzhou, to open 155 Izod stores in Asia within the next five years with projected sales of $100 million by the fifth year. Back in the U.S., Izod plans to unveil Izod Movement, a yoga line, as well as Izod Jeans and Izod Golf by 2005.
SPIEGEL UPDATE: Bankrupt Spiegel Inc. registered a net loss from operations of $38.3 million on net revenues of $109.1 million for the the four weeks ended July 26. In its monthly operating report filed with the U.S. Bankruptcy Court for the Southern District of New York, the Downers Grove, Ill.-based parent of Eddie Bauer said its net loss from operations excluding reorganization costs was $16.2 million. Total revenues included net sales of $99.2 million and $9.9 million in revenues from other operations. Spiegel listed total assets of $969.8 million and total liabilities of $1.77 billion.
THE MIGHTY QUINN: Tiffany & Co. president James Quinn made more than $1.3 million, before taxes and fees, by exercising stock options Monday. According to a filing released by the Securities and Exchange Commission Tuesday, Quinn purchased 40,000 options at a strike price of $6.88 for a total of $275,000, and then sold them in six transactions at an average of $38.84, totalling $1.6 million. The options, granted in 1996 and exercisable a year later, were set to expire in 2007.
“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)