In Brief: Wal-Mart Slides … Perry Goes Tropical … New Post at Testoni
WAL-MART SLIDES: Wal-Mart slipped into fourth place from first place the last two years in Fortune’s annual ranking of “America’s Most Admired Companies.” Taking over the first-place slot was Dell (which last...
WAL-MART SLIDES: Wal-Mart slipped into fourth place from first place the last two years in Fortune’s annual ranking of “America’s Most Admired Companies.” Taking over the first-place slot was Dell (which last year came in at number five), followed by GE at number two and Starbucks in third place. Asked if Wal-Mart was disappointed about its downgrade, Dan Fogleman, a spokesman for the Bentonville, Ark.-based retailer, said, “We’ve been fortunate to have had that [first-place] position for the last two years. Our associates are very honored to have that distinction. We’re very pleased for this year’s winner. We hope the associates there enjoy the fruits of their labor as we have.” In the same issue, Fortune ranked most-admired companies within various industries, and in apparel, Liz Claiborne took top honors, followed by Nike, VF, Polo Ralph Lauren, Jones Apparel Group, Reebok International, Kellwood, Phillips-Van Heusen, Levi Strauss and Warnaco. Some 10,000 executives, directors and security analysts were surveyed for the issue, which hit newsstands Monday.
PERRY GOES TROPICAL: Perry Ellis International Inc. said Monday it had completed its $88.5 million acquisition of the domestic operating assets of Tropical Sportswear International. The purchase price might still be adjusted to reflect Tropical’s accounts receivable and inventory. Since December, Tropical has been operating under Chapter 11 protection. To fund the acquisition, PEI increased the size of its senior credit facility, the agent for which is Congress Financial. The facility was bumped up to $175 million from $110 million and expires in October 2007.
NEW POST AT TESTONI: A. Testoni, the Bologna, Italy-based accessories firm, has appointed Takashi Fukae as a group vice president, East Asia. Until December, Fukae was managing director and chief operating officer of Bulgari Japan Ltd. The Asian market is a strong sector for Testoni, and Fukae’s appointment is part of the company’s efforts to reinforce and centralize top management in conjunction with the brand’s relaunch.
@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