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.
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
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye