In Brief: Tommy Italiano … DSW To IPO … Cherokee’s Roots …
TOMMY ITALIANO: Tommy Hilfiger Corp.’s European subsidiary, Tommy Hilfiger Europe BV, plans to buy back the rights to manage and distribute its flagship brand in Italy from Fincom SpA next month. “We intend to step up...
TOMMY ITALIANO: Tommy Hilfiger Corp.’s European subsidiary, Tommy Hilfiger Europe BV, plans to buy back the rights to manage and distribute its flagship brand in Italy from Fincom SpA next month. “We intend to step up marketing support for the Italian business and expect that Italy can and will be one of the biggest European markets for the company,” said Tommy Hilfiger Europe chief executive officer Fred Gehring. Hilfiger’s overall European business is slated to produce revenues of more than $500 million for the year ended March 31.
DSW TO IPO: DSW Shoe Warehouse is the latest retailer looking to score in the IPO market. Retail Ventures Inc., the parent company of Columbus, Ohio-based DSW, said Monday it would spin off the 175-store chain with an initial public offering, to hit the market sometime in the first half of this year and with a market value of $185 million. The company filed a registration statement with the Securities and Exchange Commission. “DSW will use a portion of the proceeds from the IPO to repay intercompany indebtedness owed to RVI,” the company said in a statement. “The amount of the proceeds that RVI receives will depend on market conditions and other factors. RVI believes the proceeds will strengthen its balance sheet and improve debt coverage.” RVI will use the funds generated through the IPO to pay down its $100 million term loan and a portion of its revolving credit. RVI is expected to own a majority of the outstanding common shares of DSW.
CHEROKEE’S ROOTS: Cherokee Inc., the Van Nuys, Calif.-based brand broker, has signed an exclusive licensing deal with Roots, a Canadian apparel firm that operates about 150 branded stores in Canada and six in the U.S. Known for its T-shirts, sweatshirts and sweatpants, as well as a developed leather handbag line, Roots has had a partnership with the Olympic Games and will be outfitting the U.S. team in Terino, Italy, in 2006. Most recently, Cherokee has inked licensing deals with Essence and Latina magazines. In January, the company announced it hired UBS Investment Bank to explore strategic alternatives.
RUSSELL NAMES EXEC: Calvin Johnston has been named chief executive officer at the Russell Athletic division of Russell Corp. The position has been open for the past two years, prior to which it was occupied by Carol Made, said a company spokeswoman. Johnston, who joined Russell in 2000, was most recently president of Russell’s Jerzees Europe division and will begin in his new post on April 1. He will relocate to Atlanta from Scotland and will report to Jon Letzler, president and chief operating officer of Russell Corp.
@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
@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)