In Brief: Women’s Wear Boosts Boss … Bush Signs Bankruptcy Bill … Tommy’s New Credit Line …
WOMEN’S WEAR BOOSTS BOSS: Hugo Boss AG is off to a strong start this year with net earnings rising 17 percent on a sales gain of 14 percent for the first quarter. In preliminary figures released Wednesday, the Metzingen,...
WOMEN’S WEAR BOOSTS BOSS: Hugo Boss AG is off to a strong start this year with net earnings rising 17 percent on a sales gain of 14 percent for the first quarter. In preliminary figures released Wednesday, the Metzingen, Germany-based fashion group said net income for the quarter came in at 52 million euros, or $68.2 million, on sales of 406 million euros, or $532.8 million. Earnings before interest and taxes showed a gain of 13 percent to 77 million euros, or $101.1 million. Dollar figures are at the average exchange rate. The company noted that Boss Woman “maintained its dynamic growth” with a year-over-year sales increase of 37 percent to 26 million euros, or $34.1 million. “We once again significantly outperformed the overall fashion market in the first quarter of 2005,” said Dr. Bruno Sälzer, chairman, in a statement.
BUSH SIGNS BANKRUPTCY BILL: President Bush signed into law on Wednesday the Bankruptcy Abuse Prevention & Consumer Protection Act of 2005. The legislation is a major overhaul of the nation’s bankruptcy laws and was sought by retailers and credit card companies because it requires more people filing for Chapter 11 to repay at least a portion of their debt. The law increases the limit on purchases of luxury goods or services that can be shielded in bankruptcy. The measure makes it easier for merchants to approach debtors in bankruptcy with reaffirmation agreements that allow them to keep merchandise bought on credit by renegotiating payment schedules. It also sets a 120-day deadline for bankrupt tenants in shopping malls to decide whether they will terminate their leases.
TOMMY’S NEW CREDIT LINE: Tommy Hilfiger Corp. said Wednesday that its wholly owned subsidiary, Tommy Hilfiger USA Inc., closed on a $150 million letter of credit facility. The new financing, to be used for normal trade financing and other general purposes, replaces an existing facility that was due to expire July 1. The new facility was arranged by J.P. Morgan Securities Inc.
STAR SEARCH: Aéropostale, the mall-based specialty retailer of casual apparel and accessories, will celebrate the opening of its 600th store at the Westfield Palm Desert Shopping Center in Palm Desert, Calif., with a model search on April 28. Representatives from the Aéropostale marketing team, along with fashion photographer Sasha Eisenman, will choose one boy and one girl, above the age of 13, to be featured in an upcoming Aéropostale marketing campaign. Each winner will receive a trip for two to an undetermined location, where they will model in an Aéropostale photo shoot.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews