NEW YORK -- Two key executives have resigned from the jewelry group of financially ailing Crystal Brands -- Ed Bucciarelli, vice president of design, and John Wagstaff, executive vice president.
Bucciarelli, who held his post for about two years, has become vice president and national sales manager for the new Guess jewelry division at Swank.
Wagstaff has become vice president of sales for the department store division at Coach. He replaced John Brody, who left Coach. Brody's plans were not known. Wagstaff held the executive vice president title at Crystal Brands jewelry for a year, and earlier he was president of the Trifari unit.
According to Judy Harrison, president and chief executive officer of the Crystal Brands jewelry group, Ellen Soto and Pat Scheckner will share Bucciarelli's responsibilities but keep their current titles. Soto is director of design for the Monet line, and Scheckner is director of design for the Trifari and Marvella brands.
Both will report to Harrison, as will Mark Nathanson, national sales manager, who has assumed Wagstaff's duties. The title of executive vice president has been eliminated.
Meanwhile, the jewelry business continues to be up for sale. As reported, in the fourth quarter of last year, Crystal Brands, which has been in Chapter 11 since January, took a $51.1 million charge, reflecting a write-off of good will and intangible assets of the jewelry business.
However, in an interview last week, Charles J. Campbell, Crystal Brands' chairman and ceo, said the jewelry operations are starting to turn around.
Campbell said the investment firm of Bear Stearns has been retained to investigate and talk with potential buyers about purchasing the division, but noted that Crystal Brands would consider a sale only if "we were to realize full value for the business." He would not say what that value is.
Industry sources estimate the jewelry group -- whose three brands, Monet, Trifari and Marvella, are long-established staples of the industry -- do about $175 million in annual sales.
Although the firm does not release separate figures for its jewelry business, Campbell said the improvement should be reflected in Crystal Brands' first-quarter results, which will be reported later this month. In all of 1993, Crystal Brands, which also makes men's and women's sportswear, posted a loss of $216.1 million, including various special charges, and sales of $444.3 million.Campbell characterized the current jewelry figures as "very positive, especially at Monet." He added that Trifari and Marvella have also "stabilized" and are now performing well at retail.
"Changes we made several months ago are just beginning to be felt at retail," Campbell said, "resulting in fewer markdowns, discounts and allowances, all based on stronger product."
He noted that the division has increased its fulfillment rate, which he said was "well below 90 percent" a year ago, to about 93 to 95 percent.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast