In Brief: This Round, Taubman … New Position at Sears … Raiter to Moschino … Parlux Acquisition Redux …
THIS ROUND, TAUBMAN: A Detroit federal district court on Tuesday granted Taubman Centers Inc.’s request to stay a preliminary injunction that had been granted in Simon Property Group’s favor in Simon’s six-month attempt to take over...
THIS ROUND, TAUBMAN: A Detroit federal district court on Tuesday granted Taubman Centers Inc.’s request to stay a preliminary injunction that had been granted in Simon Property Group’s favor in Simon’s six-month attempt to take over is archrival. The stay maintains the status quo until a federal appeals court rules on a lower court decision which would have blocked the Taubman family from using its controlling 33.6 percent stake to defeat Simon’s $1.68 billion hostile takeover bid. In return for the stay, Taubman agreed not to take any steps that would “impede” Simon’s tender offer, including the repurchase of shares and the adoption of an antitakeover mechanism such as a poison pill.
NEW POSITION AT SEARS: Sears, Roebuck & Co. has appointed Cynthia Rodgers Maignan director of multicultural merchandising. Maignan will be responsible for heading up all merchandising efforts in relation to burgeoning minority markets. Maignan will report to Sara LaPorta, senior vice president and chief strategy officer at Sears. Most recently, Maignan served as director of strategic marketing for Summit Marketing in Chicago. Previously, she was vice president of market analysis and new stores for Claire’s Stores Inc.
RAITER TO MOSCHINO: Amy Raiter has joined Moschino as director of public relations, overseeing women’s and men’s ready-to-wear and accessories. She succeeds Amy Marth, who left the company. Most recently, Raiter worked in the New York office of Versace as in-house public relations director. Before that,she was director of special events and projects at Christian Dior. At Moschino, she reports to Michelle Stein-Borgna, senior vice president of sales and marketing for AEFFE.
PARLUX ACQUISITION REDUX: Parlux Fragrances Inc. received a takeover offer from Quality King Distributors Inc. in conjunction with IIia Lekach, Parlux’s chairman and chief executive, who holds about 31 percent of the firm’s common stock. Under terms of the proposed transaction, the two parties, or entities related to them, would buy the outstanding shares of the firm through a tender offer of $4 cash a share, a 60 percent premium over Monday’s closing price of $2.50. On Tuesday, shares of the firm shot up 48 percent, or $1.20, to $3.70 in Nasdaq trading. The offer is conditioned upon, among other things, the tender of a majority of Parlux shares not held by Lekach or Quality King and the other executives and directors of the firm.
@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)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)