In Brief: Wrapped Up … Li & Fung Lands Levi’s Tops … Hoffa Quits Trade Post …
WRAPPED UP: A Versace spokesman confirmed on Friday that the company has completed its planned debt-restructuring initiative through Banca Intesa and Versace will fully reimburse 100 million euros, or $121.7 million at current exchange, worth...
WRAPPED UP: A Versace spokesman confirmed on Friday that the company has completed its planned debt-restructuring initiative through Banca Intesa and Versace will fully reimburse 100 million euros, or $121.7 million at current exchange, worth of bonds due July 5. That is the same date Versace shareholders are slated to approve 2003 accounts. Under the terms of the deal, which was originally stipulated in March, Banca Intesa will lend the company 120 million euros, or $146 million. Versace’s net financial debt stood at about 117 million euros, or $142.4 million, at the end of 2003, down from 130 million euros, or $157.3 million, at the end of 2002.
LI & FUNG LANDS LEVI’S TOPS: Hong Kong sourcing powerhouse Li & Fung has signed a licensing deal with Levi Strauss & Co. to produce a line of men’s tops under the Red Tab, Silvertab and Premium labels, starting with the spring 2005 season. WWD reported in April that negotiations for the tops licenses were ongoing. Li & Fung also produces women’s and men’s tops under the Levi Strauss Signature label. Previously, Levi’s produced these tops in-house.
HOFFA QUITS TRADE POST: James Hoffa, president of the International Brotherhood of Teamsters, resigned from his post on the President’s Advisory Committee on Trade Policy and Negotiations late Thursday. Hoffa, whose place on the select committee that gives input on trade policy was seen as a boost to President Bush, said he had no choice but to resign after Bush signed the Central American Free Trade Agreement, which critics claim contains inadequate environmental and labor provisions. “The administration has clearly decided to wage a full-fledged attack on workers’ rights, social justice and economic common sense,” Hoffa said in a statement. He called the committee a “sham” and claimed labor’s advice was ignored and its input misrepresented on Capitol Hill.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty